Jack Stoch, President, Chief Executive Officer and a director of Globex Mining Enterprises Inc. (TSX:GMX) (FRA:G1MN)  (OTCQX:GLBXF)  announces that he and his wife Dianne Stoch, a director of the Corporation, acquired an aggregate of 680,000 common shares of the Corporation upon the exercise of stock options and that he indirectly sold 350,000 Shares in the secondary market for tax reasons. This news release is issued under the early warning provisions of the Canadian securities legislation.

Specifically, on May 13, 2024, Jack Stoch acquired 350,000 Shares at a price of $0.35 per share upon the exercise of stock options, Dianne Stoch acquired 330,000 Shares at a price of $0.35 per share upon the exercise of stock options, and Jack Stoch Geoconsultant Services Limited, a company controlled by Jack Stoch, sold 350,000 Shares at a price of $0.98 per share.

Immediately prior to the Transactions, Jack Stoch together with Dianne Stoch held, directly or indirectly, (i) 6,244,591 Shares, representing 11.31% of the 55,204,836 issued and outstanding Shares, and (ii) options entitling Jack Stoch and Dianne Stoch to purchase up to an aggregate of 1,565,000 Shares. Assuming the exercise of all options held by Jack Stoch and Dianne Stoch, prior to the Transactions Jack Stoch together with Dianne Stoch would have owned, directly or indirectly, 7,809,591 Shares, representing 13.76% of the Shares that would have then been issued and outstanding.

Immediately following the Transactions, Jack Stoch together with Dianne Stoch hold, directly or indirectly, (i) 6,574,591 Shares, representing 11.76% of the 55,884,836 issued and outstanding Shares, and (ii) options entitling Jack Stoch and Dianne Stoch to purchase up to an aggregate of 885,000 Shares. Assuming the exercise of all options held by Jack Stoch and Dianne Stoch, they would own, directly or indirectly, 7,129,591 Shares, representing 12.56% of the Shares that would then be issued and outstanding.

Jack Stoch and Dianne Stoch acquired the Shares described in this news release for investment purposes and Jack Stoch indirectly disposed of Shares described in this news release for tax reasons. In accordance with applicable securities laws, Jack Stoch may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments of the Corporation in the open market or otherwise, and he reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.

A copy of the early warning report to be filed by Jack Stoch in connection with the Transactions described above will be available on SEDAR+ under the Corporation’s profile.