Update: MLT Aikins advises Amex Exploration Inc. on closing of $80-million private placement
MLT Aikins is pleased to have acted as Canadian legal counsel to Amex Exploration Inc. (Amex) in connection with a private placement for aggregate gross proceeds of approximately $80 million to fund the development of its flagship Perron Gold Project in Quebec and exploration of its properties in Ontario.
On June 18, 2026, the Montreal-based near-term gold producer announced the closing of the final tranche of an oversubscribed private placement offering, consisting of 4,581,567 common shares of Amex (Common Shares) at a price of $4.50 per share (the Offering Price) for gross proceeds of $20,617,051.50 (the Final Tranche). The Common Shares issued under the Final Tranche were purchased by strategic investor Eldorado Gold Corporation (“Eldorado“) pursuant to the terms of the Investor Rights Agreement dated January 16, 2024 between the Company and Eldorado. The Final Tranche was completed following Eldorado being approved as a “Control Person” of Amex (as defined in, and in accordance with, the policies of the TSX Venture Exchange) by disinterested shareholders at Amex’s annual general and special meeting of shareholders held on June 16, 2026.
Prior to the Final Tranche, on May 21, 2026, the Company completed (i) a “best efforts” private placement offering of 11,110,150 Common Shares at the Offering Price in reliance on the “listed issuer financing exemption” under applicable Canadian securities laws and an initial tranche of a concurrent brokered private placement consisting of 394,011 Common Shares at the Offering Price, for aggregate gross proceeds of C$51,768,724.50 (collectively, the First Tranche), and (ii) a non-brokered private placement of 1,622,222 Common Shares at the Offering Price, for additional gross proceeds of C$7,299,999 (the Non-Brokered Private Placement).
In total, Amex raised aggregate gross proceeds of C$79,685,775 under the First Tranche, the Non-Brokered Private Placement, and the Final Tranche (collectively, the Offering).
The First Tranche and the Final Tranche were completed pursuant to the terms of an agency agreement dated May 21, 2026 among National Bank Financial Inc. and MDCP Securities Limited, as joint bookrunners and co-lead agents, together with a syndicate of agents including ATB Capital Markets Corp. and Haywood Securities Inc., and the Company.
The net proceeds of the Offering will be used to fund the capital expenditures for Amex’s 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 purposes.
About Amex Exploration Inc.
Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Gold Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts several zones of high-grade gold mineralization, VMS mineralization and ‘hybrid’ gold-rich VMS mineralization. When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 570.94 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.
