Amex Exploration (AMX-V) Upsize of Bought Deal PP to Cdn$43 Million
Jan 17, '22 - NR
Amex Exploration is pleased to announce that due to strong investor demand, the Company has entered into an amendment agreement with PI Financial Corp. (“PI Financial”), pursuant to which to which a syndicate of underwriters led by PI Financial (collectively, the "Underwriters") have agreed to increase the size of the previously announced bought deal private placement to an aggregate of 8,950,000 flow-through shares (the “Flow-Through Shares”) at a price per Flow-Through Share of C$4.82 (the “Issue Price”), for gross proceeds of C$43,139,000 (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 an additional 15% 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 expenditures on Amex’s properties located in Quebec.
The Offering is scheduled to close on or about February 17, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.
In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which 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 kilometres 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 Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209 |
