Montreal, August 11, 2011 – Amex Exploration Inc. (TSX: AMX) (“Amex” or the “Corporation”) announces that it has closed on August 10, 2011 a non-brokered private placement consisting of 1,800,000 units (the “Units”) of Amex, at $0.25 per Unit, for total gross proceeds of $450,000. Each Unit is comprised of one non flow-through common share of Amex and one common share purchase warrant entitling the holder thereof to acquire one additional common share of Amex at $0.40 per share for a period of 18 months following the closing date. Sodemex participated for $30,000 and 3 insiders have participated for a total of $20,000 in connection with this financing.
All securities issued pursuant to the private placement are subject to a four month and one day hold period, expiring on December 11, 2011. The private placement and the payment of the commissions are subject to the final approval of the TSX Venture Exchange (the “TSX-V”).
Proceeds of the private placement will be applied toward exploration work on the Corporation’s properties in Mexico and Quebec, and towards meeting short term operating working capital requirements.
Amex is a junior mining exploration company, the common shares of which are listed on the TSX-V. Amex’s primary objective is to develop and bring into production viable gold and base metal deposits. For further information please contact Michel Lemay at 514- 866-8209.
Neither 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.