$AMX.V

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Amex Exploration Closes Final Tranche of C$80 Million Shares Placement

Amex Exploration (AMX.V) completed the final tranche of its oversubscribed best efforts private placement, raising a total of C$80 million, the company said Thursday.Amex plans to use the proceeds for its Perron gold project in Quebec, exploration of its other properties, and for general corporate purposes.The final tranche consisted of 4,581,567 shares priced at C$4.50 per share for about C$20.6 million in proceeds.In May, the company raised C$51.8 million in the first tranche of the best efforts private placement, and an additional C$7.3 million in a non-brokered private placement.Eldorado Gold (ELD.TO) participated in the offering, which raised its interest in Amex to 26.90% from 24.75% on a non-diluted basis, and to 26.99% from 24.85% on a partially diluted basis.

$AMX.V$ELD.TO

Mining & Metals27d ago

Amex Exploration Now Off Restriction at National Bank of Canada

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%

$AMX.V

Mining & Metals28d ago

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

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%

$AMX.V

Mining & Metals62d ago

Amex Exploration Begins 15,000-Meter Drill Program at Perron West in Ontario

Amex Exploration (AMX.V) on Thursday provided derails on it maiden, 15,000-meter drill program on the Perron West Project in Ontario.The company said that pad construction "progressed well" over the past weeks and that the first of two drill rigs has arrived on site, been mobilized to its first pad and begun drilling.It added that a second drill rig is expected to arrive on site in coming days, which is in addition to the on-going drill program on the original Perron Project in Quebec.In a statement the company noted that, among the many targets to be tested, the first drill will begin in the Target Area A, where Amex will test for a potential repetition of a rhyolitic block to the west of the Patten Pluton."The rhyolitic Beaupre Block in Quebec is currently host to the vast majority of Amex's mineralization and therefore any repeats of this geological environment represent prime regional exploration targets for the company," it added.The company's shares were last seen down $0.03 to $4.98 on the TSX Venture Exchange.Price: $4.98, Change: $-0.03, Percent Change: -0.60%

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