Sprott and Eldorado Gold take piece of AMEX Perron project
Amex Exploration Inc. is pleased to announce a non-brokered private placement of up to 3,400,000 units of the Company (the "Units") at a price of C$1.15 per Unit (the "Offering Price") for aggregate proceeds of C$3,910,000 (the "Offering").
Each Unit will consist of one common share (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant will be exercisable to acquire one Common Share for a period of 24 months following the Closing Date of the Offering at an exercise price of C$1.40 per common share, subject to adjustment in certain events.
The Company is pleased to advise that Offering is supported by key strategic investors, Eric Sprott, through 2176423 Ontario Ltd., and Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) ("Eldorado").
"This financing is bolstered by investment from key existing shareholders, and we thank them for their continued endorsement of our work at Perron. Our recently released mineral resource estimate focused on high-grade ounces, and we believe our upcoming PEA, expected to be released in Q4 2024, will demonstrate robust economics on the Perron project," said Victor Cantore, President and CEO of Amex Exploration.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at amexexploration.com. Prospective investors should read the offering document before making an investment decision.
The Company will use the proceeds of the Offering to fund the advancement of the Company's Preliminary Economic Study on its wholly owned 100% owned high-grade Perron Gold Project and general working capital purposes. The Company is well funded for its current exploration program.
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