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MONTREAL, CANADA / ACCESSWIRE / May 5, 2020 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to announce that following the Annual and Special Meeting of Shareholders held May 4, 2020:

  • The six management appointed nominees; Victor Cantore, Pierre Carrier, Yvon Gélinas, Anik Gendron, André Shareck and Jacques Trottier were elected with greater than 98% of the votes in favour.
  • The external auditors, RCGT, were re-appointed with 99% of the votes in favour.
  • The rolling stock option plan was approved with 99% of the votes in favour.
  • The Advance Notice By-law was approved with 99% of the votes in favour.

In addition, Amex is very pleased to announce that following the AGM, Mr. Bryan Coates was nominated as an independent director bringing the total directors to seven. Mr. Coates brings to the Amex Board more than 35 years of experience in the mining industry. During his career he served as President of Osisko Gold Royalties from its formation in June 2014 to December 31, 2019, during which he participated in two major transformational acquisitions; Virginia Mines Inc. in 2014 for $550 million and the acquisition of a portfolio of mining assets composed of 74 royalties, streams and metal offtakes from Orion Mine Finance in 2017 for $1.1 billion. Mr. Coates also served as Vice President, Finance and Chief Financial Officer of Osisko Mining Corporation, from May 2007 to June 2014, where he participated in the development of the Canadian Malartic Mine which had a $1 billion capital budget. Prior to, he served as Vice President Finance and Chief Financial Officer of Cambior Inc. and IAMGOLD Corporation. Mr. Coates is a Chartered Professional Accountant (CPA) and is a graduate of the ICD-Rotman Directors Education Program. Having served on the Boards of several publicly traded mining companies and as Chair of Falco Resources Ltd., Mr. Coates is well acquainted with key governance issues and is a seasoned and accomplished board member.

Mr. Coates commented: "I am delighted to join the Board of Amex Exploration. Having visited the property and its installations, I believe that Amex is working on a new emerging gold camp. Being born and having spent my early years in Normetal, our host community, I am much aware of its rich mining history and availability of resources to support our activities."

Also newly elected to the Board as an independent director is Anik Gendron, an attorney specialized in securities laws and corporate governance issues. Ms. Gendron represents several mining explorations companies and has served as general counsel and corporate secretary of Metanor Resources Inc. (and its successor Bonterra Resources Inc.) from 2012 to February 2020. Ms. Gendron holds a B.Sc (economics), a LLB. from the University of Montreal and is a member of the Quebec Bar.

Dr. Jacques Trottier, the Executive Chairman stated: "On behalf of the Board, I welcome the new directors to the team. Recognized for his leadership and strategic initiatives, Mr. Coates brings extensive local and international business and industry expertise and we look forward to benefiting from his input and insights as we develop our assets. Ms. Gendron's experience in corporate legal affairs, including financial transactions and M&A, is also a welcomed addition and strengthens the Board's overall expertise and skills."

Both directors were granted 150,000 options, having an exercise price of $ 1.44 and a term of five years, with 100,000 options vesting on the date of the grant, an additional 25,000 vesting on the one year anniversary of the grant and the remaining 25,000 vesting on the second anniversary of the grant.

Advance Notice By-Law

The Advance Notice By-law provides a clear process for director nominations to ensure that all shareholders receive adequate notice and information about director nominees in order to exercise their voting rights in an informed manner. The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies. The Advance Notice By-law includes deadlines by which shareholders must notify the Company of director nominations prior to any annual or special meeting of shareholders where directors are to be elected. It also sets forth the information about the proposed nominee that a shareholder must include in the notice for it to be valid. In the case of an annual general meeting of shareholders, notice to the Corporation must be made not less than 30 prior to the date of the annual general meeting of shareholders; provided, however, that in the event that the annual general meeting of shareholders is to be held on a date that, is less than 40 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the close of business on the tenth (10th) day following the Notice Date. In the case of a special meeting called for the purpose of electing directors, notice must be made not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made. Provided further that, in either instance, if notice-and-access (as defined in National Instrument 54-101 - Communication with Beneficial Owners of Securities of a Reporting Issuer) is used for delivery of proxy related materials in respect of a meeting described in this section, the notice must be received not later than the close of business on the fortieth (40th) day before the applicable meeting. The Advance Notice By-law also prescribes the proper written form for a shareholder's notice and provides that the Company's Board of Directors may, in its sole discretion, waive any requirement under these provisions. The full text of the Advance Notice By-law is available under the Company's profile at www.sedar.com.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions of Quebec and Ontario. Amex is focused on its 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of other properties with gold potential in Quebec.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and LGZ, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

SOURCE: Amex Exploration, Inc.



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