Amex Arranges $33.74-Million Bought Deal Offering

Amex Exploration Inc. has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal private placement basis, seven million flow-through common shares of the company, at a price per flow-through share of $4.82, for gross proceeds of $33.74-million.

The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)).

The company has also granted the underwriters an option to purchase up to an additional 15 per cent in flow-through shares to cover overallotments, exercisable in whole or in part at any time prior to the closing date of the offering.

The gross proceeds from the sale of the flow-through shares will be used for general exploration expenditures on Amex's properties located in Quebec.

The offering is scheduled to close on or about Feb. 15, 2022, or such other date as agreed to between the company and the underwriters, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

In connection with the offering, the underwriters will receive on closing of the offering a cash commission of 6.0 per cent of the gross proceeds of the offering, other than for purchasers on a president's list, for which a cash fee of 3.0 per cent of the aggregate proceeds of the flow-through shares will be paid. The same commission shall be paid to the underwriters in connection with any flow-through shares issued or sold pursuant to the exercise of the underwriters' option.

About Amex Exploration Inc.

Amex is a junior mining exploration company, the primary objective of which is to acquire, explore and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100-per-cent-owned Perron gold project located 110 kilometres north of Rouyn-Noranda, Que., consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern gold zone, the Gratien gold zone, the Grey Cat zone and the Central polymetallic zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.