Amex Exploration Inc. (“Amex” or the “Company”) (TSX-V:AMX) (FRA:MX0) (OTCQX:AMXEF) is pleased to announce that it has agreed with the syndicate of underwriters led by PI Financial Corp. (collectively, the “Underwriters”), to increase the size of the bought deal private placement basis previously announced on May 19,2020. The offering will now be for 6,250,000 charity flow-through units (the “Charity FT Units”), at a price per Flow-Through Unit of $2.52 (the “Issue Price”), for gross proceeds of C$15,750,000 (the “Offering”).
Each Flow-Through Unit shall be comprised of one common share of the Company issued on a flow-through basis (“Flow-Through Share”) and one-half of one common share purchase warrant to be issued on a non-flow-through basis (each whole such warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one common share of Amex at a price of $2.10 for a period of 18 months following the closing of 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 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 June 9, 2020, 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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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 “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.