Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) and
Chibougamau Independent Mines Inc. (TSX VENTURE:CBG)(STUT:CLL) ("Chibougamau
Mines") announce, further to Globex's management information circular dated
September 19, 2012, the manner in which the adjusted cost base ("ACB") of
Globex's common shares outstanding prior to the effective date of the recent
Plan of Arrangement should be apportioned between the shares of Chibougamau
Mines and Globex's "new" common shares. Under the Plan of Arrangement which
resulted in the "spin out" of Chibougamau Mines, Globex shareholders received
one Chibougamau Mines share and one "new" Globex share for each Globex share
held.  


Globex believes that the appropriate proportionate allocation of the ACB of
Globex's shares is as follows: (i) 79.8% of the ACB of the Globex shares should
be apportioned to the ACB of the "new" Globex shares, and (ii) 20.2% of the ACB
of the Globex shares should be apportioned to the ACB of the Chibougamau Mines
shares. 


By way of example only, if the ACB of a shareholder's Globex shares was $1.00
prior to the Plan of Arrangement, the ACB of the shareholder's "new" Globex
shares will be $0.798 and the ACB of the shareholder's Chibougamau Mines shares
will be $0.202. The ACB of the Globex shares will vary from shareholder to
shareholder. 


Globex's determination of allocation is based on the initial closing price of
Globex's shares on the Toronto Stock Exchange and of Chibougamau Mines' shares
on the TSX Venture Exchange after Chibougamau Mines commenced trading on January
25, 2013. Globex's determination is not binding on Canada Revenue Agency. 


The web site for Chibougamau Independent Mines Inc. is now available at
www.chibougamaumines.com.




We Seek Safe Harbour.          Foreign Private Issuer 12g3 - 2(b)
                         CUSIP Chibougamau Independent Mines Inc.
                                                    - 167101 10 4
                           CUSIP Globex Mining Enterprises Inc. -
                                                      379900 50 9



FOR FURTHER INFORMATION PLEASE CONTACT: 
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
Chibougamau Independent ... (TSXV:CBG)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Chibougamau Independent ... Charts.
Chibougamau Independent ... (TSXV:CBG)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Chibougamau Independent ... Charts.