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Globex Announces $3,150,000 Private Placement
Published : May 24, 2012
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ROUYN-NORANDA, QUÉBEC, CANADA--(Marketwire - May 24, 2012) - GLOBEX MINING ENTERPRISES INC. (News - Market indicators)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to announce that it is organizing a private placement of up to 2,307,692 "flow-through" shares at a price of $1.30 per share, for maximum gross proceeds to Globex of $3 million, and up to 139,535 common shares at a price of $1.075 per share, for maximum gross proceeds to Globex of $150,000.

Globex will use the proceeds from the issuance of the "flow-through" shares for exploration on its properties located in Québec and Ontario, and will use the net proceeds from the issuance of the common shares for land acquisition and working capital purposes.

Purchasers of the "flow-through" shares will be entitled to claim a 100% deduction of the amount of their subscription, for Canadian federal and Québec provincial tax purposes, for the 2012 taxation year. Individual purchasers of "flow-through" shares resident in Québec will be entitled to two additional deductions of 25% each, while individual purchasers of "flow-through" shares resident in Ontario will be entitled to an additional deduction of 5%.

Industrial Alliance Securities Inc. will act as lead agent for the private placement.

The private placement will be effected pursuant to prospectus exemptions under applicable Canadian securities legislation and is expected to close during the week of June 4, 2012.

The private placement is subject to regulatory approval, including that of the Toronto Stock Exchange. The shares issued in the private placement will be subject to a four-month "hold period" under applicable Canadian securities legislation.

We Seek Safe Harbour.  Foreign Private Issuer 12g3 – 2(b)
  CUSIP Number 379900 10 3

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Companies expectations and projections. A more detailed discussion of the risks is available in the current Company's "Annual Information Form" available on SEDAR at www.sedar.com

22,751,241 shares issued and outstanding



Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com

Globex Mining Enterprises Inc.

DEVELOPMENT STAGE
CODE : GMX.TO
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Globex Mining is an exploration zinc and copper company based in Canada.

Globex Mining holds various exploration projects in Canada.

Its main asset in development is FABIE BAY in Canada and its main exploration properties are BATEMAN BAY, LYNDHURST, POIRIER MINE, RAMP (MAUDE LAKE), MOOSELAND, PACAUD, BEAUCHASTEL-ROUYN, SUFFIELD MINE, VULCAN (GOLD DIKE) - GLOBEX, WEMINDJI, GRAND CALUMET, HUNTERS POINT, GRANDROY, LEIPSIGATE, DELORO, GAYHURST, FISH LAKE, BUCKELL LAKE, MAGNESIUM-TALC, TUT ZONE, FONTANA GOLD PROJECT, EAGLE GOLD PROPERTY, ARNTFIELD, COURVILLE PROJECT, LAKE SIMON, TRANSTERRE, WRIGHTBAR GOLD PROPERTY, TONNANCOUR, LA MOTTE, VICTORIA GOLD PROJECT, SMITH-ZULAPA, HALLIWELL & BM PROPERTIES, LAGUERRE-KNUTSON-RAVEN RIVER, DUPRAT, BLACKCLIFF, DUVAY ZONE, BELL MOUNTAIN, PARBEC, NORDEAU GOLD, RUSSIAN KID (EL COCO), FABIE BAY AND MAGUSI RIVER, GETTY DEPOSIT, WOOD - PANDORA, AUTHIER, CENTRAL CADILLAC, JACOBIE and LAMY MICA in Canada.

Globex Mining is listed in Canada and in Germany. Its market capitalisation is CA$ 21.5 millions as of today (US$ 15.8 millions, € 14.0 millions).

Its stock quote reached its lowest recent point on January 07, 2000 at CA$ 0.09, and its highest recent level on December 15, 2006 at CA$ 7.76.

Globex Mining has 48 900 000 shares outstanding.

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In the News and Medias of Globex Mining Enterprises Inc.
5/5/2009Globex Mining sells Zinc mine complex to Nyrstar
Financings of Globex Mining Enterprises Inc.
7/4/2012Announces Second Closing of Private Placement
6/8/2012Announces First Closing of Private Placement
5/24/2012Announces $3,150,000 Private Placement
Project news of Globex Mining Enterprises Inc.
4/17/2012Posts Preliminary Economic Assessment on SEDAR
7/21/2011(Lamy Mica)Acquires Phlogopite Properties
7/5/2011(Fontana Gold Project)Tres-Or Announces Intent to Acquire the Fontana Gold Project...
5/22/2011(Parbec)Drill Program Underway on Globex's Parbec Property to Test N...
3/28/2011(Fabie Bay And Magusi River)Reacquires Magusi River Deposit and Other Assets
2/16/2011(Bell Mountain)More Gold and Silver on the Globex-Laurion Bell Mountain Pro...
2/14/2011(Getty Deposit)Getty Royalty Interest to Receive a Fresh Approach
3/2/2010NI 43-101 Report on Talc-Magnesite Deposit
2/18/2009(Leipsigate) Acquires Leipsigate Gold District, Nova Scotia
2/11/2009(Fabie Bay And Magusi River)Announces Magusi Mineral Resource
Corporate news of Globex Mining Enterprises Inc.
1/7/2016Globex Acquires Additional Gold Resources
10/15/2015Globex: High Grade Gold Intersection at Pandora-Wood Propert...
9/22/2015Globex : Project Updates, Acquisitions, Deals
9/9/2015Globex Acquires Underexplored High Grade Gold Property
4/8/2015Acquisitions (Antimony, Gold, Pyrophyllite, Rare Earths), Op...
4/7/2015Globex Acquires Nova Scotia Potash/Salt Exploration Property
4/2/2015Mag Copper and Partners to Go Underground at Globex's Magusi...
2/10/2015Globex Receives Integra Option Payment
2/4/2015Globex Options Parbec Gold Property
12/16/2014Globex Acquires Large Casa Berardi Fault Gold Property
11/20/2014Globex: Exploration Update, Continuance as Federal Corporati...
8/27/2014Globex Acquires Santa Anna Gold Deposit
7/21/2014Globex Receives Positive Results on Talc Testing, Royalty In...
6/18/2014Globex Gains Two New Partners at Wood Pandora, Additional Ro...
6/12/2014Globex Announces Election of Directors
6/2/2014Globex Announces Appointment of William McGuinty P.Geo. as V...
5/9/2014Globex Adopts Shareholder Rights Plan
5/7/2014Globex Intersects 4.8m Grading 5.39 g/t Au at Eagle Mine Pro...
5/6/2014IIROC Trade Resumption - GMX
5/6/2014IIROC Trading Halt - GMX
10/30/2013Acquires Titanium Dioxide-Iron Property
10/1/2013/ Osisko Intersect 11.8m Grading 15.1 g/t Au on Wood-Pandora...
9/16/2013/Osisko Drilling on Wood-Pandora Property
9/9/2013Chibougamau Independent Drilling Intersects Wide Core Length...
7/3/2013Recovers Duquesne West Gold Property Interest
6/19/2013Shareholder Update
2/18/2013Successful Exploration Programs
2/4/2013Drilling to Begin at Chibougamau Independent Mines, Berrigan...
1/24/2013Chibougamau Independent Mines Inc. to Commence Trading on TS...
12/10/2012Announces Date for Court Hearing on Final Order for Spin-Out...
11/12/2012Announces Increase in Amount and First Closing of Private Pl...
11/5/2012Acquires Joutel Copper Mine, Quebec
10/31/2012on Spin-Out of Chibougamau Independent Mines Inc.
10/22/2012Plan of Arrangement Resolution Approved
10/15/2012Reminds Shareholders to Vote FOR Arrangement for "Spin-Out" ...
9/24/2012Posts Information Circular and Technical Reports
9/19/2012Obtains Interim Order for "Spin-Out" of Chibougamau Independ...
7/10/2012and Queenston Commence Drilling on Wood-Pandora Property
6/29/2012to Start Drilling on Turner Falls Rare Earths Property
5/30/2012Shareholder Update
5/8/2012Optionee Richmont Reports Significant Gold Intersections in ...
3/13/2012(Mooseland)NSGOLD to Update Resource Estimate at Mooseland Gold Propert...
3/2/2012Releases Positive PEA Results for Timmins Talc - Magnesite P...
2/2/2012Intersects High Grade Gold (128 g/t Au) at Isaac's Harbour P...
1/17/2012Rare Earth Results-Turner Falls Project, Quebec
12/6/2011Turner Falls Rare Earths Project
10/11/2011/Queenston Intersect 28.86 g/t Au Over 4.9 Metres on Wood-Pa...
10/4/2011Intersects Gold on Geological Target
9/8/2011Duquesne-Ottoman Option Inferred Gold Resource Increases 56%
8/31/2011Royalty Property Receives Positive Preliminary Economic Asse...
8/8/2011(Tonnancour)Drills 5.23% Cu and 13.12% Zn Over 4.5 Metres at Tonnancour
6/28/2011Receives Large Share Position of Mag Copper Limited
6/9/2011Signs Chibougamau Standstill Agreement and Pockets Cash
5/31/2011Ungava Area Iron Project Optioned to Canamara
5/5/2011Queenston-Globex Report New Drilling Results at Wood-Pandora...
4/6/2011Signs LOI on Magusi Mine Property Package
3/16/2011Talc-Magnesite Project Moves to Next Stage of Development
3/17/2010Increases Interest in Timmins Talc-Magnesite Project
7/10/2007Daniel Bernard Joins Globex Team
7/4/2007Comprehensive Program Underway at Getty Lead-Zinc Deposit
6/20/2007 Underground Development to Proceed at Rousseau Gold Deposit
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