Amex Exploration Inc.

Amex Exploration Inc.

July 02, 2013 09:00 ET

Agnico Eagle Makes a Private Placement in Amex Exploration as Part of the Option Agreement on the Perron Property

MONTREAL, QUEBEC--(Marketwired - July 2, 2013) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is pleased to announce that it has closed a non-brokered private placement in the amount of $403,000.00 with Agnico Eagle Mines Limited ("Agnico"), as announced on June 21, 2013 and as part of the Option Agreement on the Perron property. The closing occurred Friday afternoon June 28, 2013.

A total of 3,100,000 shares were sold to Agnico at a price of $0.13 per share, for a total amount of $403,000.00. As a result of the transaction Agnico owns 5.76% of Amex`s issued and outstanding shares on a non-diluted basis.

Pursuant to the share purchase agreement between Amex and Agnico, subject to certain conditions, Agnico has the right to participate in future equity offerings by Amex in order to maintain its pro rata investment in Amex.

All shares issued pursuant to the private placement are subject to a 4-month hold period. The private placement is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

The Perron gold project consists of 84 contiguous claims located at about 5 km NW from Normetal mine-town in the Abitibi region of Quebec. The property is easily accessible yearlong by road network. Geologically, the project is located in the Archean Greenstone Belt of the Superior Lake structural province.

Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.

Neither 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.

Contact Information

  • Jacques Trottier, PhD
    President and Chief Executive Officer
    Amex Exploration

    Pierre Carrier
    Chief Operation Officer
    Amex Exploration