Amex Exploration Inc.

Amex Exploration Inc.

March 19, 2010 09:31 ET

Amex Closes $1,084,000 Financing

MONTREAL, QUEBEC--(Marketwire - March 19, 2010) - Amex Exploration Inc. (TSX:AMX) ("Amex") announces that it has closed the first tranche of a $1,500,000 financing consisting of 4 336 000 units of Amex, at $0.25 per Unit, for total gross proceeds of $1,084,000. Each Unit is comprised of one common share of Amex and one common share purchase warrant entitling the holder thereof to acquire one additional common share of Amex at $0.35 per share for a period of 12 months following the closing date and thereafter at the price of $0.45 during an additional period of 12 months.

In connection with the financing, Amex agreed to pay a cash commissions of $9,000 to Kingsdale Capital Market inc, $900 to Canaccord Capital inc and $1,500 to GMP Securities.

All securities issued pursuant to the private placement are subject to a four-month and one day hold period. The private placement and the payment of the cash commissions are subjects to the final approval of the TSX Venture Exchange.

Proceeds of the private placement will be applied toward ongoing work on Amex newly acquire properties in Mexico, and toward meeting short term operating working capital requirements.

Amex is a junior mining exploration company, the common shares of which are listed on the TSX Venture Exchange. Amex's 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

  • Amex Exploration Inc.
    Michel Lemay