Globex Mining (TSE: GMX – OTCQX: GLBXF) CEO Jack Stoch joined Steve Darling from Proactive to bring news the company has moved along a few of their projects to Yamana Gold. The Francoeur/Arntfield/Lac Fortune gold properties are located in Abitibi, Québec and adjoin Yamana’s Wasamac Gold Mine project.
Stoch telling Proactive, Globex will receive 15 million in stock and cash. After closing Globex will receive 4 million in shares and then will receive 3 million in cash after year 1, 2 million after year two, 3 million after year 3 and then another 3 million on the fourth anniversary of the close.