Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

July 31, 2009 16:00 ET

Globex: Financing Final Closing

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - July 31, 2009) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(PINK SHEETS:GLBXF) is pleased to announce that it has completed the final closing of its previously announced private placement by issuing an aggregate of 217,000 "flow-through" common shares of which 67,000 shares were issued at a price of $1.15 per share and 150,000 shares were issued at $1.35 per share, to "accredited investors", for gross proceeds to Globex of $279,550.

The sale of the 217,000 "flow-through" common shares represent the second and final tranche of a private placement of 857,000 "flow-through" common shares for gross proceeds to Globex of $1,015,550.

In connection with the final closing of the private placement, Globex paid a finder's fee of $8,100, representing 4% of the gross proceeds raised in the private placement from one investor.

The proceeds from the private placement will be used for exploration on Globex's properties in Quebec and Ontario. Under applicable securities legislation and the policies of the Toronto Stock Exchange, all of the common shares issued by Globex at the closing are subject to a hold period expiring on December 1, 2009.

Globex is pleased that it was able to sell the last 150,000 shares at a price of $1.35 per share, a mark-up of $0.20 per share above the original issue price. This has allowed Globex to rise slightly above the target amount while issuing fewer shares than originally planned. We thank the investors for their confidence in Globex's long term prospects.

We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 10 3

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Companies expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at

19,195,074 shares issued and outstanding.

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