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Amex Exploration Now Off Restriction at National Bank of Canada

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Amex Exploration (AMX.V) is now off restriction at National Bank of Canada after the company closed a C$59 million private placement, the bank said Thursday.

The bank gave Amex an outperform rating and C$6.50 price target.

The financing was a de-risking milestone that allows Amex to have a strong balance sheet to advance engineering and construction of an underground ramp and bulk sample at the Perron gold project in Quebec.

The funds will also allow Amex to advance its mine development plans and conduct more aggressive drill campaigns across the district-scale portfolio of mineral claims in the northern Abitibi, National Bank said.

Amex traded at $4.64 per share at last look Friday on the TSX Venture Exchange.

Price: $4.63, Change: $-0.12, Percent Change: -2.53%

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