en.Wedoany.com Reported - Amex Exploration (TSX-V:AMX) has closed the final tranche of its oversubscribed private placement, raising a total of C$20.6 million (US$20.8 million) to advance its Perron Gold Project in Quebec, Canada.
The company issued 4,581,567 common shares at C$4.50 per share in the final tranche, bringing the total proceeds from the placement to C$79.7 million (US$80.4 million). The placement was initially announced on May 5, 2026.
Strategic investor Eldorado Gold (TSX:ELD) purchased all shares in the final tranche for a total of C$20,617,051.50. The transaction was completed after Eldorado was approved as a control person by Amex's disinterested shareholders at Amex's annual general meeting on June 16, 2026.
Amex Exploration paid a cash commission of C$1,030,852.58 to the agents for the final tranche.
Following the closing, Eldorado now holds 43,207,897 common shares and 207,000 warrants, representing 26.90% of the non-diluted issued and outstanding shares, compared to 24.75% prior to the completion of the final tranche.
Amex Exploration will use the proceeds to fund capital expenditures for its bulk sampling program and Phase I development of the Perron Gold Project.
Additional funds will be allocated for a feasibility study for Phase II development, exploration activities, and general corporate purposes.
The Perron Gold Project comprises 183 contiguous mining claims covering 65.75 square kilometers, located approximately 110 kilometers north of Rouyn-Noranda, Quebec. Combined with adjacent properties in Ontario, the consolidated land package covers 570.94 square kilometers. The project benefits from year-round road access, is a 30-minute drive from the airport, and is located 6.5 kilometers from Normétal. Several processing plants operated by major gold producers are located nearby.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
