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Amex Exploration Raises $50 Million in a Brokered Offering and Close the First Tranche of a Private Placement

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Amex Exploration (AMX.V) closed a best-efforts private placement of shares that raised $50 million, including the full exercise of the brokers' over-allotment option, while closing the first tranche of concurrent share offer that raised $1.8 million.

The company's brokered offering placed 11.1-million shares priced at C$4.50 apiece. It also closed a first tranche of the brokered portion of ia concurrent private placement, placing 394,011 shares at the offering price for C$1.8 million.

Proceeds will be used to fund the capital expenditures for its bulk sampling program and a portion of the phase 1 development of the Perron Gold project, a feasibility study on the phase 2 development of the project, exploration of the company's properties, and general corporate needs.

Shares of the company were last seen down $0.02 to $4.69 on the TSX Venture Exchange.

Price: $4.69, Change: $-0.02, Percent Change: -0.42%

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