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MONTREAL, May 05, 2026 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that it has entered into an agreement with National Bank Financial Inc. and MDCP Securities Limited (together, the “Co-Lead Agents”), as joint bookrunners and co-lead agents, on behalf of a syndicate of agents to be appointed (collectively, the “Agents”), in connection with a “best efforts” private placement offering under the LIFE Exemption (as defined herein) for up to 9,661,000 common shares of the Company (the “Common Shares“) at a price of $4.50 per Common Share (the “Offering Price”) for aggregate gross proceeds of up to $43,474,500 (the “Offering“).

The Agents have also been granted an option, exercisable in full or in part up to 48 hours prior to the Closing Date (as defined herein), to sell up to an additional 1,449,150 Common Shares at the Offering Price for additional gross proceeds of up to $6,521,175. The Offering will be completed pursuant to the terms of an agency agreement to be entered into among the Company and the Agents on the Closing Date.

The net proceeds of the Offering will be used for the funding of the capital expenditures for the bulk sampling development phase of the Perron Gold Project and general corporate purposes.

Pursuant to the Investor Rights Agreement dated as of January 16, 2024, between the Company and Eldorado Gold Corporation (“Eldorado”), the Company anticipates that Eldorado will exercise its participation right to purchase Common Shares at the Offering Price.

Victor Cantore, President and CEO of Amex, states, “With this equity financing, we are well positioned to advance the planned 40,000-tonne bulk sample at the Perron Gold Project in 2026, with the objective of initiating ore processing in 2027. This represents a significant milestone and a key derisking event for Amex as we execute our strategy to accelerate Phase 1 production at Perron. I will be maintaining my pro rata ownership and investing alongside our shareholders, and we anticipate continued support from Eldorado. We are also pleased to welcome new shareholders to the register as we move forward with this next exciting phase of growth at Perron.”

Mr. Cantore intends to participate in the Offering for an amount representing up to his pro rata interest in the Company.

The Common Shares will be offered for sale to “accredited investors” (within the meaning of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) in reliance on the “listed issuer financing exemption” available under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “LIFE Exemption“) in each of the provinces and territories of Canada. The securities issued in connection with the Offering are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Common Shares may also be offered in the United States or to, or for the account or benefit of, U.S. persons, pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

The Offering is expected to close on or about May 21, 2026, or such other date as the Company and the Co-Lead Agents may agree (the “Closing Date“). Completion of the Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”).

In connection with the Offering, the Company will pay to the Agents a cash commission equal to 5.0% of the gross proceeds of the Offering.