Amex Exploration (TSX-V:AMX) has completed the final tranche of its oversubscribed private placement, raising C$20.6 million ($20.8 million) to advance its Perron Gold Project in Québec, Canada.
The company issued 4,581,567 common shares at C$4.50 per share in the final tranche, bringing total gross proceeds from the entire placement to C$79.7 million ($80.4 million). The placement was originally announced on 5 May 2026.
Strategic investor Eldorado Gold (TSX:ELD) purchased all shares in the final tranche for C$20,617,051.50. The transaction was completed following Eldorado’s approval as a control person by Amex’s disinterested shareholders at the company’s annual general meeting on 16 June 2026.
The company paid agents a cash commission of C$1,030,852.58 for the final tranche.
Following completion, Eldorado now owns 43,207,897 common shares and 207,000 warrants, representing 26.90% of outstanding shares on a non-diluted basis. This compares to its previous holding of 24.75% before the final tranche.
Amex Exploration will use proceeds to finance capital expenditures for its bulk sampling programme and phase one development of the Perron Gold Project.
Additional funds will support a Feasibility Study on phase two development, exploration activities, and general corporate purposes.
The Perron Gold Project spans 183 contiguous claims covering 65.75km², approximately 110 kilometres north of Rouyn-Noranda, Québec. Combined with adjacent properties in Ontario, the consolidated land package covers 570.94km².
The project benefits from year-round road access, proximity to an airport 30 minutes away, and 6.5km from Normetal. Several processing plants owned by major gold producers operate nearby.
Write to JC Villarba at Mining.com.au
Images: Amex Exploration
