NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 17, 2022 (GLOBE NEWSWIRE) — Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX) is pleased to announce that it has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the underwriters have agreed to purchase, in a “bought deal” private placement basis, 7,000,000 flow-through common shares (the “Flow-Through Shares”) of the Company, at a price per Flow-Through Share of $4.82 (the “Issue Price”), for gross proceeds of C$33,740,000 (the “Offering” ).
The Flow-Through Shares will qualify as “Flow-Through Shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).
The Company has also granted the underwriters an option to purchase up to 15% additional flow-through shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the offering.
The gross proceeds from the sale of the flow-through shares will be used for general exploration expenses on the Amex properties located in Quebec.
The Offering is expected to close on or about February 15, 2022, or such other date as the Company and the Underwriters agree, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including TSX Venture Exchange approval.
In connection with the Offering, the underwriters will receive at the closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, except for purchasers on the President’s list, for which a cash compensation of 3.0% of total flow-through share proceeds will be paid. The same commission will be paid to the underwriters in respect of any flow-through shares issued or sold pursuant to the exercise of the underwriters’ option.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States or to US persons unless registered under United States securities law and applicable state securities laws or an exemption from such registration is available.
Amex Exploration Inc. is a junior mining exploration company whose primary objective is to acquire, explore and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project, located 110 kilometers north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the East Gold Zone, the Gratien Gold Zone, the Gray Cat Zone and the Central Polymetallic Zone. High grade gold has been identified in each of the zones. An important part of the project remains underexplored. In addition to the Perron project, the company owns a portfolio of three other gold and base metal properties in the Abitibi region of Quebec and elsewhere in the province.
For more information, please contact:
President and CEO
Amex Exploration: (514) 866-8209
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains statements that may constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws, including statements regarding the completion of the offering and the use of proceeds. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or predicts will or may occur in the future are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”. , “earn”, “have”, “plan” or “project” or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, which could cause the Company’s actual results to differ materially from those discussed in the statements. forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among others, failure to obtain necessary regulatory approvals, termination of the agreement governing the offer, commercial terms and general economic conditions, changes in global gold markets, labor and equipment availability, changes in laws and permitting requirements, unforeseen weather changes, litigation and title claims, environmental risks as well as the risks identified in the Company’s annual MD&A. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described and, accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be those anticipated, estimated or planned. The Company does not intend and undertakes no obligation to update these forward-looking statements, except as otherwise required by applicable law.