MONTREAL, Aug. 22 /CNW Telbec/ - AMEX Exploration Inc. ("Amex") (TSXV: AMX) is pleased to announce the closing of a previously announced private placement of 300 units (the "Units"), at a price of $1,000 per Unit, for total gross proceeds of $300,000.
Each Unit consists of 1,500 flow-through common shares at a price of $0.50 per flow-through common share, 500 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. In connection with the private placement, a 10% cash commission will be paid.
The private placement is subject to final TSX Venture Exchange acceptance for filing. All securities issued will be subject to a four month hold period from the closing date expiring on December 14, 2007.
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.