MONTREAL, Oct. 17 /CNW Telbec/ - AMEX Exploration Inc. ("Amex") (TSXV: AMX) is pleased to announce a private placement of up to 300 units (the "Units") at a price of $1,000 per Unit, for total gross proceeds of up to $300,000.
Each Unit consists of 1,700 flow-through common shares at a price of $0.50 per flow-through common share, 300 common shares at a price of $0.50 per common share and 1,000 share purchase warrants. Each share purchase warrant shall entitle its holder thereof to acquire one additional common share of Amex at a price of $0.65 for a period of 24 months from the closing date.
The proceeds of the private placement will be used to finance exploration work on Amex's properties and for working capital purposes.
Amex Exploration Inc. is a junior mining exploration company listed of the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.