Jack and Dianne Stoch Transact in Shares of Globex Mining Enterprises Inc.
May 14 2024 - 3:54PM
Jack Stoch, President, Chief Executive Officer and a director of
Globex Mining Enterprises Inc. (the “Corporation”), announces
that he and his wife Dianne Stoch, a director of the Corporation,
acquired an aggregate of 680,000 common shares of the Corporation
(“Shares”) 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
(collectively, the “Transactions”).
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 (collectively, “Securities”) 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.
For more information, contact:
Jack Stoch President, Chief Executive Officer and
Director Globex Mining Enterprises Inc. 86, 14th Street
Rouyn-Noranda, Québec J9X 2J E-mail: jstoch@globexmining.com