Amex Exploration Completes C$37.25 Million Private Placement

• Total Raised: C$37.25 million through non-brokered private placement across two tranches 
• Oversubscribed: Exceeded maximum announced size by C$7.28 million
• Share Price: C$1.60 per common share for 23,281,250 total shares issued 
• Use of Funds: Exploration at Perron Gold Project focusing on target definition and drilling 
• Hold Period: Four months and one day from issuance date per Canadian securities laws

Amex Exploration Inc. (TSXV: AMX) is a Canadian mineral exploration company that has made high-grade gold discoveries and identified copper-rich volcanogenic massive sulphide zones at its 100%-owned Perron Gold Project. Located approximately 110 kilometres north of Rouyn-Noranda, Quebec, the project comprises 117 contiguous claims covering 45.18 square kilometres and hosts both bulk-tonnage and high-grade gold mineralisation styles.

Combined with the adjacent Perron West Project (48 claims in Quebec and 35 claims in Ontario), the total land package spans 197.52 square kilometres within geology favourable for gold and VMS mineralisation. The project has year-round road access, is 20 minutes from an airport, approximately 8 kilometres from Normétal, and close to processing plants owned by major gold producers.

Placement Structure

Amex completed the offering in two tranches following announcements on July 17 and August 7, 2025. The first tranche raised C$34.25 million on August 7, 2025, with the final tranche of C$3.0 million completed through the issuance of 1,877,000 shares. The company paid C$56,000 in cash finder's fees to eligible third parties.

The oversubscription occurred despite the company initially announcing a smaller maximum size on July 17, 2025. The non-brokered structure meant Amex managed the placement directly without investment dealers. All shares were issued at the same C$1.60 price across both tranches.

The placement structure allowed the company to complete the majority of the financing in the first tranche before closing the remaining amount. This approach provided certainty on the bulk of the proceeds whilst completing the oversubscribed portion separately.

Use of Proceeds

The company stated it intends to use net proceeds to fund exploration across the Perron Gold Project, with focus on new target definition and drilling. A portion will also support general working capital requirements. No specific breakdown of allocation percentages was provided in the announcement.

The exploration programme will address the various mineralisation styles identified at Perron, including both bulk-tonnage and high-grade gold targets. The 197.52 square kilometre consolidated land package provides multiple areas for exploration activities across Quebec and Ontario claims.

Working capital allocation covers ongoing operational and administrative expenses during the exploration phase. The company did not specify the timeline for deployment of these funds or provide details on planned drilling metres or target priorities.

Regulatory Compliance

All 23,281,250 shares issued are subject to a four-month and one-day hold period from issuance date under Canadian securities laws. The offering requires final acceptance from the TSX Venture Exchange before completion. No timeline was provided for TSXV approval.

The company included standard U.S. securities law disclaimers stating the shares have not been registered under U.S. federal or state securities laws. The securities cannot be offered or sold in the United States without registration or applicable exemption.

Amex trades on TSXV under symbol AMX, on the Frankfurt Stock Exchange as MX0, and on OTCQX as AMXEF. The company did not announce any changes to its listing status or trading arrangements following the placement.

Next Steps

The C$37.25 million raised provides Amex with funding to advance exploration at Perron Gold Project. The company will focus on target definition and drilling across its land holdings, with particular attention to areas showing both gold and VMS potential. The project's infrastructure advantages include year-round access and proximity to existing processing facilities.

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