ATEX Resources Inc. (TSXV: ATX; OTCQB: ATXRF) has successfully closed its upsized bought deal financing, raising gross proceeds of approximately C$110 million. The offering consisted of 42,262,500 units priced at C$2.60 each, with each unit comprising one common share and one warrant exercisable at C$4.00 until November 6, 2029.
The financing, which included full exercise of the underwriters’ option, was led by BMO Capital Markets and Desjardins Capital Markets, alongside a syndicate including Stifel Nicolaus Canada Inc., Ventum Financial Corp., Cormark Securities Inc., Paradigm Capital Inc., and TD Securities Inc. Underwriters received a cash fee of C$3.84 million, representing 5% of gross proceeds, with a reduced 2% fee for select purchasers.
Proceeds will be directed toward the continued exploration and development of the company’s flagship Valeriano Copper-Gold Project in Chile’s Atacama Region, as well as general working capital.
The offering remains subject to final TSX Venture Exchange approval. All securities issued are subject to a four-month and one-day hold period.
Insider participation totalled 9.5 million units, triggering related party transaction provisions under MI 61-101. However, ATEX is exempt from formal valuation and minority shareholder approval requirements, as the insider subscriptions did not exceed 25% of market capitalization.
ATEX continues to advance Valeriano, located within the emerging Link Belt copper-gold porphyry corridor. The project boasts an Indicated Resource of 475 Mt at 0.88% CuEq and an Inferred Resource of 1,511 Mt at 0.75% CuEq, as reported in September 2025.
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