TSX:ELD - Post Discussion
Post by
couples4 on Jan 17, 2024 5:06pm
Strategic investment by Eldorado
Montreal, Quebec--(Newsfile Corp. - January 16, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce a non-brokered charity flow-through private placement of 11,344,130 charity flow-through shares (each, a "CFT Share") at a price of C$2.35 per CFT Share to raise aggregate gross proceeds of C$26.65 million (the "Offering").
Following completion of the Offering, Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) ("Eldorado") has agreed to make a strategic investment in the Company through the purchase of 11,344,130 common shares of the Company (the "Strategic Investment") issued pursuant to the Offering, for a purchase price of C$15 million. Upon closing, the Strategic Investment represents approximately a 9.9% ownership interest in the Company's issued and outstanding common shares on a non-diluted basis. In connection with the Strategic Investment, the Company has granted Eldorado a customary anti-dilution right to maintain its equity ownership interest.
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