Amex Exploration Inc. Closes $244,375.00 Private Placement
Thursday, August 28th 2008
AMEX Exploration Inc. announce the closing of a private placement of 85 units, at a price of $2,875.00 per Unit, for total gross proceeds of $244,375.00.
Each Unit consists of 20,000 flow-through common shares at a price of $0.115 per flow-through common share, 5,000 common shares at a price of $0.115 per common share and 25,000 share purchase warrants. Each share purchase warrant shall entitle its holder thereof to acquire one additional common share of Amex at a price of $0.15 for a period of 24 months from the closing date.
The private placement is subject to final TSX Venture Exchange acceptance for filing. All securities issued will be subject to a four month hold period from the closing date.
Five insiders have participated to the private placement for $112,125.00.
The proceeds of the private placement will be used to finance exploration work on Amex’s properties and for working capital purposes.
Amex Exploration Inc. is a junior mining exploration company listed of the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.