Globex Mining Enterprises (TSE:GMX), a Canada-based development stage mineral explorer, said on Monday that it has closed a private placement financing worth $1.3 million.
The Quebec-based miner sold 490,566 flow-through common shares for $2.65 each to five accredited investors, it said.
Globex also said it plans to use the proceeds from the financing for exploration on its projects in Quebec, Ontario, Nova Scotia and New Brunswick.
A $24,000 commission fee was paid to cover legal and administration costs. Globex did not issue any warrants or broker warrants in connection to the placement.
Globex has more than 100 properties in North America, covering precious metal, base metal, industrial minerals and specialty minerals.
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