The Prospector News

Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid

 

 

 

 

 

GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRA:G1MN)  (OTCQX:GLBXF)  is pleased to announce that the Toronto Stock Exchange has approved the renewal of Globex’s normal course issuer bid. Under the renewed NCIB, Globex will be entitled to repurchase for cancellation up to 1,000,000 common shares, representing approximately 1.78% of Globex’s issued and outstanding shares as of July 19, 2024, over a twelve-month period starting on August 2, 2024 and ending on August 1, 2025. The purchases by Globex will be effected through the facilities of the TSX and on alternative trading systems in Canada, and will be made at the market price of the shares at the time of the purchase. Globex had 56,294,836 common shares issued and outstanding as of July 19, 2024, of which 48,740,245 shares constituted the “public float”.

 

During the most recently completed six months, the average daily trading volume for Globex’s common shares on the TSX was 22,553 shares. Consequently, under the policies of the TSX, Globex will have the right to repurchase during any one trading day a maximum of 5,638 common shares on the TSX, representing 25% of the average daily trading volume. In addition, Globex may make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) on the TSX of common shares not directly or indirectly owned by insiders of Globex, in accordance with the policies of the TSX.

 

Globex intends to acquire the common shares because it believes that the repurchase of common shares at certain market prices is beneficial to Globex and its shareholders. Globex intends to make any purchases on an opportunistic basis, taking share price and other considerations into account.

 

Any purchases made pursuant to the NCIB will be made in accordance with the requirements of the TSX. Except for exempt offers, Globex will make no purchases of common shares other than open market purchases during the period of the NCIB.

 

Under its current NCIB, which entered into effect on August 2, 2023 and which expires on August 1, 2024, Globex is authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex has repurchased a total of 225,000 common shares at a volume weighted average purchase price of $0.8120 per share, through the facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were cancelled by Globex.

 

In connection with the NCIB, Globex has entered into an automatic share purchase plan with a Canadian securities dealer pursuant to which the securities dealer, acting as Globex’s agent, may acquire at its discretion shares on Globex’s behalf during “black-out” or “closed” periods under Globex’s stock trading policy, subject to certain parameters as to price and number of shares.

 

Posted July 30, 2024

Share this news article

MORE or "UNCATEGORIZED"


Galway Metals Intersects 8.4 g/t Gold over 4.0 Meters, 350 Meters from North Deposit

Galway Metals Inc. (TSX-V: GWM)(OTCQB: GAYMF) is pleased to report results from 11 diamond drill hol... READ MORE

September 8, 2025

Sitka Expands Rhosgobel Discovery with Intercept of 162.0 Metres of 1.02 g/t Gold from Surface, Including 71.0 Metres of 1.57 g/t Gold, at Its RC Gold Project, Yukon

Sitka Gold Corp. (TSX-V: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce additional positive ... READ MORE

September 8, 2025

Blackrock Silver Announces Updated Mineral Resource Estimate for the Tonopah West Project

Blackrock Silver Corp. (TSX-V: BRC) (OTCQX: BKRRF) (FSE: AHZ0) is pleased to report the resul... READ MORE

September 8, 2025

Vizsla Silver Enters US$220M Project Finance Mandate with Macquarie to Fund Development of the Panuco Project

Vizsla Royalties Corp. (TSX-V: VROY) (OTCQB: VROYF)  is pleased to highlight the mandate let... READ MORE

September 8, 2025

Kinross sells portion of Asante Gold shares

Kinross Gold Corporation (TSX: K) (NYSE: KGC) announced today that it has sold an aggregate of 29,85... READ MORE

September 8, 2025

Copyright 2025 The Prospector News