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Amex Exploration Announces Closing of C$34 Million Private Placement, Including Strategic Investment By Eldorado Gold
Montreal, Quebec--(Newsfile Corp. - August 7, 2025) - Amex Exploration Inc. (TSXV: AMX) (FS...
About this update from Amex Exploration Inc.
[{"type":"text","content":"Amex Exploration Announces Closing of C$34 Million Private Placement, Including Strategic Investment By Eldorado GoldMontreal, Quebec--(Newsfile Corp. - August 7, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) (\"Amex\" or the \"Company\") is pleased to announce that, due to strong investor demand, it has completed the first tranche of an oversubscribed non-brokered private placement, previously announced on July 17, 2025, for aggregate gross proceeds of C$34,246,800 (the \"First Tranche\"). The First Tranche was oversubscribed and exceeded the maximum size of the offering previously announced on July 17, 2025 by $4,276,800.The First Tranche consisted of the following:(i) 11,000,000 charity flow-through common shares of Amex (the \"CFT Shares\") at a price of C$2.27 per CFT Share, for gross proceeds of C$24,970,000 (the \"CFT Offering\"); and(ii) 5,798,000 hard dollar common shares of Amex (the \"HD Shares\") at a price of C$1.60 per HD Share, for gross proceeds of C$9,276,800 (the \"HD Offering\").The Company is further pleased to announce that it expects to complete a second and final tranche private placement of up to 1,877,000 HD Shares at a price of C1.60 per HD Share for additional aggregate gross proceeds of up to C$3,003,200 (the \"Final Tranche\" and together with the First Tranche, the \"Offering\") in the coming days. Assuming completion of the maximum size of the Final Tranche, the Offering will raise aggregate gross proceeds of $37,250,000.As part of the Offering, Eldorado Gold Corporation (\"Eldorado\") made a strategic investment in the Company (the \"Strategic Investment\") through the purchase of (i) 11,000,000 CFT Shares from certain sellers at a purchase price of C$1.60 per CFT Share; and (ii) 1,000,000 HD Shares issued under the First Tranche from the Company at a purchase price of C$1.60 per HD Share. \"We are very pleased with the continued support from our strategic investor, Eldorado, as well as the strong level of interest from global investors in our offering,\" commented Victor Cantore, President and CEO of Amex Exploration. \"This financing will not only position us for future discoveries but also advance the project toward development.\"The Company intends to use the net proceeds of the Offering to fund exploration across the Perron Gold Project, with a focus on ne...