O2Gold Upsizes Private Placement Financing, Targets Late-2025 Acquisition Close

O2Gold has upsized its private placement financing from 14 to 18 million units, raising $1.7 million to fund exploration expenses on a Quebec gold mining property acquisition. The Acquisition is expected to close in late-2025, pending satisfaction of certain conditions.

Montreal, Quebec—(Newsfile Corp. - August 7, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") has successfully completed the first tranche of an oversubscribed non-brokered private placement, raising C$34.25 million. The offering was initially announced on July 17, 2025, with the first tranche consisting of 11 million charity flow-through common shares (CFT Shares) and 5.798 million hard dollar common shares (HD Shares), priced at C$2.27 and C$1.60 per share, respectively [1].

The first tranche, which exceeded the maximum size of the offering by C$4.276 million, generated C$24.97 million and C$9.276 million from the CFT Shares and HD Shares offerings, respectively. Amex Exploration expects to complete a second tranche of up to 1,877,000 HD Shares, potentially raising an additional C$3.003 million [1].

Eldorado Gold Corporation ("Eldorado") made a strategic investment in Amex Exploration as part of the offering, purchasing 11 million CFT Shares and 1 million HD Shares at C$1.60 per share [1]. This strategic investment reflects Eldorado's continued support and interest in Amex's exploration activities.

The funds raised will be used to fund exploration across Amex's Perron Gold Project, with a focus on new target definition and drilling, as well as general working capital. The CFT Shares will qualify as flow-through shares, allowing Amex to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures [1].

The Company will pay certain eligible third parties dealing at arm's length a cash finder's fee in connection with the offering. All securities issued in connection with the offering will be subject to a four-month and one-day hold period [1].

Mills Dunlop Capital Partners Ltd. acted as the financial advisor to Amex Exploration in connection with the strategic investment by Eldorado, receiving an advisory fee of C$1 million [1].

Following the strategic investment, Eldorado's beneficial ownership in Amex increased to approximately 17.01% on a non-diluted basis and 17.14% on a partially diluted basis [1].

Amex Exploration's President and CEO, Victor Cantore, commented, "We are very pleased with the continued support from our strategic investor, Eldorado, as well as the strong level of interest from global investors in our offering. This financing will not only position us for future discoveries but also advance the project toward development."

References:
[1] https://www.nasdaq.com/press-release/amex-exploration-announces-closing-c-34-million-private-placement-including-strategic