Business
Amex Exploration Inc. closes financings of $1,150,000
MONTREAL, Aug. 4 /CNW Telbec/ - Amex Exploration Inc. (TSX-V: AMX) ("Amex") is pleased to announc...
About this update from Amex Exploration Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 4 /CNW Telbec/ - Amex Exploration Inc. (TSX-V: AMX)\n("Amex") is pleased to announce the closing of a non-brokered private\nplacement of $1,000,000 through the sale of 2,857,142 flow-through units (each\na "FT Unit" and collectively, the "FT Units") at $0.35 each to the\nMineralFields Group ("MineralFields"). Each FT Unit consists of one\nflow-through common share and one-half of one common share purchase warrant,\neach whole common share purchase warrant entitling MineralFields to purchase\none additional common share of Amex at the price of $0.40 during a period of\n12 months following the closing date and thereafter at the price of $0.50\nduring an additional period of 12 months.\n\n\nAs consideration for the services rendered by Limited Market Dealer Inc.\n("LMD") in connection with the private placement, Amex has paid to LMD a cash\nfinder's fee of $50,000 and issued 278,571 finder's options, each finder's\noption entitling its holder to purchase one unit of Amex (each, a "Finder's\nUnit") at the price of $0.35 per Finder's Unit for a period of 24 months\nfollowing the closing date. Each Finder's Unit is comprised of one common\nshare and one-half of one common share purchase warrant exercisable on the\nsame terms as the common share purchase warrants comprising the FT Units.\n\n\n"We are pleased to be entering into this relationship with MineralFields\nGroup", said Jacques Trottier, President and CEO. "This is an important\nmilestone in the growth of Amex Exploration Inc. and we look forward to\nworking with MineralFields Group as we develop holdings in the Quebec\nregions."\n\n\nAmex also announces the closing of a first tranche of $150,000 of a\nprivate placement of up to $500,000 through the sale of 428,571 flow-through\nunits ("Flow-Through Units") at $0.35 each. Each Flow-Through Units consists\nof one flow-through common share and one common share purchase warrant, each\ncommon share purchase warrant entitling to purchase one additional common\nshare of Amex at the price of $0.40 during a period of 12 months following the\nclosing date and thereafter at the price of $0.50 during an additional period\nof 12 months. Subject to the approval of the TSX Venture Exchange, Amex will\npay a cash commission of $12,...