Globex: Sells Certac Cells to Osisko Mining

ROUYN-NORANDA, QUÉBEC--(Marketwired - Feb. 26, 2018) - GLOBEX MINING ENTERPRISES INC. ((TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that Globex has sold our Certac copper/zinc/gold/silver property located at Le Tac township, Quebec (32F08) to Osisko Mining Inc. (TSX:OSK). Consideration for the sale is a cash payment of two hundred and fifty thousand dollars ($250,000) and a Gross Metal Royalty (GMR) payable to Globex on all metal production based upon the gold price upon the date of delivery of the metals by a smelter or royalty. The GMR will be 2.5% at a gold price below $1,000 per ounce or 3% GMR at a gold price equal to or greater than $1,000 per ounce. Osisko retains a first right of refusal should Globex decide at anytime to sell its GMR as well as an exclusive right to buy back 1.5% GMR for $1,500,000.