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Globex Mining Enterprises says it has completed the acquisition of Rockport Mining

Globex Mining Enterprises Inc (CVE:GMX) (OTCQX:GLBXF) said it has acquired private exploration and holding company Rockport Mining Corp, which owns two royalties on Globex properties in New Brunswick. Prior to purchasing Rockport, Globex acquired the company’s Devil’s Pike gold property with a reported Inferred Resource of 214,800 tons grading 9.6 grams per ton (g/t) gold (cut) or 13.48 g/t gold (uncut). Rockport retained a 1% net smelter royalty on Devil’s Pike after 600,000 ounces of gold was produced. READ: Globex Mining options former Eagle gold mine in Quebec to Maple Gold Mines Earlier this year, Globex also purchased the Bald Hill antimony deposit with Rockport retaining a 1% net smelter royalty on all mineral production of that property. With the recent acquisition, the royalties no longer exist thus adding value to the Globex gold and antimony assets, both of which are located in southern New Brunswick. According to the company, the purchase and amalgamation also provide Globex with contracted access to certain areas facilitating access for various types of surveys and diamond drilling. Additionally, the merger of Rockport with Globex adds non-capital losses carried forward to Globex’s balance sheet which, if applicable, will be very useful considering Globex’s increased income in 2021. On the financial front, Globex also said it has been awarded $20,000 from the New Brunswick Exploration Assistance Program to help finance the exploration of the Bald Hill Antimony property. Globex Mining Enterprises is an exploration, royalty, and property bank company with a diversified portfolio of mid-stage exploration, development, and royalty properties in Canada, Germany, and the US. Contact the writer at georgia@proactiveinvestors.com Follow her on Twitter @MissInformd