MONTRÉAL, QUÉBEC--(Marketwired - Jan. 30, 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 $540,000.00, through the sale of "A" & "B" units respectively prices at 1,440.00$ and 360.00$ each.
The securities issued pursuant to the sale of the "A" units are: 2,400,000 flow-through common shares, priced at $0.18 each, and 1,200,000 common share purchase warrants ("Warrant A"). Each Warrant A entitles the holder to purchase one additional common share, at a price of $0.25 each, for a period of 18 months following the closing date.
The securities issued pursuant to the sale of the "B" units are: 600,000 common shares priced at $0.18 each and 300,000 common share purchase warrants ("Warrant B"). Each Warrant B entitles the holder to acquire one additional common share at $0.25 per share, for a period of 18 months following the closing date.
In connection with the Private Placement, Amex paid a Finder's fee in the amount of $37,800.00 and issued 210,000 finder's warrants. Each finder's warrant entitles the holder to purchase one common share, at a price of $0.18, for a period of 18 months following the closing date.
The net 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.