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Amex Exploration Announces Closing of C$34 Million Private Placement, Including Strategic Investment By Eldorado Gold
Newsfile· 2025-08-07 19:53
Core Viewpoint - Amex Exploration Inc. has successfully completed an oversubscribed private placement raising C$34.25 million, with significant participation from Eldorado Gold Corporation, positioning the company for future exploration and development of its Perron Gold Project [1][5]. Group 1: Private Placement Details - The first tranche of the private placement raised C$34,246,800, exceeding the initial target by C$4,276,800 due to strong investor demand [1]. - The first tranche included 11,000,000 charity flow-through common shares at C$2.27 per share, generating C$24,970,000, and 5,798,000 hard dollar common shares at C$1.60 per share, generating C$9,276,800 [2]. - A second tranche is expected to raise an additional C$3,003,200, bringing the total offering to C$37,250,000 if fully subscribed [3]. Group 2: Strategic Investment by Eldorado Gold - Eldorado Gold made a strategic investment by purchasing 11,000,000 charity flow-through shares at C$1.60 each and 1,000,000 hard dollar shares at the same price [4]. - Following this investment, Eldorado's ownership in Amex increased to approximately 17.01% of the outstanding shares on a non-diluted basis [10]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized for exploration activities at the Perron Gold Project, focusing on new target definition and drilling, as well as for general working capital [5]. - The gross proceeds from the charity flow-through offering will be allocated to eligible Canadian exploration expenses related to the Perron Gold Project [6]. Group 4: Company Overview - Amex Exploration Inc. is focused on high-grade gold discoveries at its 100%-owned Perron Gold Project, which spans 45.18 km² and is located approximately 110 kilometers north of Rouyn-Noranda, Quebec [14]. - The project is strategically positioned with excellent infrastructure, including proximity to major gold producers and accessibility via a year-round road [16].
Tudor Gold Announces Closing of $14.95 Million Financing, with Participation by Eric Sprott
Newsfile· 2025-05-29 17:34
Core Viewpoint - Tudor Gold Corp. has successfully closed a financing round, raising approximately $14.95 million through a brokered offering and private placement, with participation from notable investor Eric Sprott [1][2]. Financing Details - The financing included the issuance of 10,158,045 non-flow-through units at a price of $0.50 per unit, 8,333,500 flow-through units for charitable purchasers at $0.75 per unit, and 6,034,752 flow-through units at $0.60 per unit [6]. - The net proceeds from the sale of NFT Units will be allocated for working capital and general corporate purposes, while the gross proceeds from FT Units and Charity FT Units will be directed towards exploration expenses on the Treaty Creek property [3][4]. Investor Participation - Eric Sprott, through his corporation, acquired 2,000,000 Common Shares and 1,000,000 Warrants as part of the financing [2]. - Related parties purchased a total of 2,227,000 Common Shares and 1,113,500 Warrants, which are classified as related party transactions [10]. Use of Proceeds - The funds raised will be utilized for exploration activities on the Treaty Creek project, which is located in British Columbia's Golden Triangle [4][11]. - The Company has committed to indemnifying subscribers for any additional taxes resulting from the Canada Revenue Agency's potential reduction of Qualifying Expenditures [4]. Regulatory Compliance - The Offerings are subject to final approval from the TSX Venture Exchange and adhere to Canadian securities laws, including a four-month hold period for the FT Units and underlying securities [8].