MONTREAL, QUEBEC--(Marketwired - Nov. 21, 2014) - Amex Exploration Inc. (TSX VENTURE: AMX) ("Amex" or the "Corporation") is pleased to announce that it has closed a non-brokered private placement of an aggregate amount of $419,600.00, through the sale of 3,900,000 flow-through units (the « FT Units ») and 370,000 regular units (the « Units »), respectively priced at 0.10$ and 0.08$ each.
The FT Units are composed of one flow-through common share and one half of one common share purchase warrant (the « Warrant ») and the Units consist in one common share and one full Warrant. The Warrants can be exercised at the price of $0.13 for a period of 24 months following the closing date.
In connection with the Private Placement, Amex paid a Finder's fee to Secutor Capital Management Corporation in the amount of $29,372.00 and issued 298,900 finder's warrants. Each finder's warrant entitles the holder to purchase one common share, at a price of $0.09, for a period of 24 months following the closing date.
The gross proceeds from the sale of the flow-through shares will be used to finance the Corporation's exploration program on its properties located in the Province of Quebec, and the net proceeds from the sale of the common shares will be used by the Corporation for general working capital purposes.
All securities issued pursuant to the Private Placement are subject to a 4-month and one day hold period. The Private Placement is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.
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:
514-866-8209