Yamana Gold Inc (YRI)

[NYBob]

$RS thanks; Globex to Sell Francoeur/Arntfield/Lac Fortune Gold Property
to Yamana Gold Inc. for +$15 Million
Rouyn-Noranda, Quebec, Canada.


https://www.globexmining.com/staging/admin/news_pdfs/2021-06-14%20Globex%20sells%20Francoeur_Arntfield_Lac%20Fortune%20Gold%20Property.pdf


GLOBEX MINING ENTERPRISES INC. (GMX –
Toronto Stock Exchange,
G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock
Exchanges and GLBXF – OTCQX International in the USA) is pleased to inform shareholders that it has
entered into a definitive Purchase Agreement to sell the Francoeur/Arntfield/Lac Fortune gold property to
Yamana Gold Inc. (TSX:YRI; NYSE:AUY; LSE:AUY).


The property, located in Abitibi, Québec, adjoins Yamana’s
Wasamac Gold Mine project on which Yamana is currently working in order to advance to production.

The Globex property includes a number of former gold mines and areas of excellent gold exploration potential.

Exploration by Globex has demonstrated the potential for finding additional areas of significant gold
mineralization.

In addition to the Francoeur/Arntfield/Lac Fortune property, as part of the transaction
Yamana will acquire 30 claims in Beauchastel township to the east of the Wasamac Gold Mine property and
three claims in Malartic township from Globex.

Under the Purchase Agreement, Globex will receive the following cash and share payments from Yamana:
Upon closing of the transaction: $4,000,000, which will be satisfied by Yamana issuing 706,714 shares to
Globex at a deemed price of $5.66 per share. Based on the closing price of Yamana’s shares on the
Toronto Stock Exchange on Friday, June 11, 2021 of $6.22, the 706,714 Yamana shares have a current
market value of $4,395,761.08;
On: - first anniversary of closing: $3,000,000 in cash
- second anniversary of closing: $2,000,000 in cash
- third anniversary of closing: $3,000,000 in cash
- fourth anniversary of closing: $3,000,000 in cash
Based on Yamana’s current trading price, the total cash and share consideration is $15,395,761.08, of which
Globex will receive $7,395,761.08 in cash and shares within the first year.

Globex may elect to receive one or more of the four anniversary payments in Yamana shares.

If Globex so
elects, the number of shares issued by Yamana will be based on the volume weighted average trading price
of Yamana’s shares for the five trading days immediately preceding the date of payment.

In addition, Globex will retain a 2% Gross Metal Royalty on all mineral production from the
Francoeur/Arntfield/Lac Fortune property and the 30 Beauchastel and three Malartic township claims, of
which 0.5% may be purchased by Yamana for $1,500,000.
LEGAL*53348308.2
2
Yamana has agreed to assume payment of the three underlying royalties on the properties and will make a
final environmental bond payment of $223,633.50 currently due by Globex on the Francoeur Mine in
July 2021, after which Globex will transfer the bond to Yamana.
Globex is pleased to have entered into the Purchase Agreement with Yamana, which will provide Globex with
revenue for the next four years as well as a significant royalty stream should a mineral deposit on the property
package enter into production.

Closing of the sale, which is expected to take place on June 21, 2021, is conditional upon regulatory approval
and standard closing conditions.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified
Person (Q.P.) under NI 43-101.

We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b)
CUSIP Number 379900 50 9
LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: [phone]
Fax: [phone]
[e-mail]

http://www.globexmining.com

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 u

https://www.globexmining.com/staging/admin/news_pdfs/2021-06-14%20Globex%20sells%20Francoeur_Arntfield_Lac%20Fortune%20Gold%20Property.pdf


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