SOURCE: Globex, Inc.

February 07, 2007 09:45 ET

Globex, Inc. Commences Development of Phase I of Drilling Program at Uranium Mining Property

NEW YORK, NY -- (MARKET WIRE) -- February 7, 2007 -- Globex, Inc. (PINKSHEETS: GLXI), today announced that its operations team is on route to the Company's uranium mining property in Northern Quebec, Canada. Upon arrival, the team will firstly set the guidelines and markers for Phase I of the drilling program and then proceed to finalize Globex's second acquisition of uranium mining claims in Northern Quebec.

The staff has completed the analysis of historical reports and documentation pertaining to past exploratory activities in the immediate area surrounding Globex's uranium mining property. Considering the significant number of inquiries from Globex's shareholders who are well informed about the mining industry, the Company's operations team will endeavour to publish some of the primary results following their return from the mining site.

Globex also announced that the Management team is currently evaluating several equity financing proposals from various finance organizations. Shareholders may rest assured that Globex will take into consideration the potential dilutive impact of any equity financing and weigh it against its ability to enhance the liquidity and financial position of the Company. Management firmly believes that the Company's stock is undervalued at current levels and is continually searching for ways to increase shareholder value.

For more information please contact Michel Benoit at (514) 288-8494 or via e-mail at Globexenergy@umining.com.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact Information