Amex Exploration Inc. (TSXV: AMX | OTCQX: AMXEF) has successfully closed the second and final tranche of its oversubscribed non-brokered private placement, completing the deal with the issuance of 1,877,000 common shares at C$1.60 each to raise gross proceeds of C$3,003,200. With the first tranche, which raised C$34,246,800, total fundraising under the offering reached C$37,250,000, surpassing the initially announced cap by C$7,280,000. In line with standard practices, the company paid arm’s-length finder’s fees amounting to C$56,000 to eligible third parties.
Amex plans to deploy the funds to advance exploration activities at its Perron Gold Project, prioritizing the definition of new targets and drilling programmes. The remaining capital will support ongoing general working capital needs, underpinning the company’s push to accelerate its gold discovery efforts.
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