Toronto, Ontario--(Newsfile Corp. - November 7, 2019) - Eric Sprott announces that today, 2176423 Ontario Ltd. (a corporation he beneficially owns) purchased 2,000,000 common shares (Shares) and 1,000,000 Share purchase warrants (Warrants) of Amex Exploration Inc., through a private agreement for total consideration of $2 million, representing an increase in holdings of approximately 4.2% of the outstanding Shares on a partially diluted basis since the last early warning report. Prior to the acquisition, Mr. Sprott beneficially owned and controlled 4,714,000 Shares and 2,000,000 Warrants representing approximately 7.6% of the outstanding Shares on a non-diluted basis and approximately 10.5% on a partially diluted basis assuming the exercise of all Warrants.
As a result of the Acquisition, Mr. Sprott now beneficially owns and controls 6,714,400 Shares and 3,000,000 Warrants representing approximately 10.8% of the outstanding Shares on a non-diluted basis and approximately 14.9% on a partially diluted basis assuming the exercise of all Warrants.
The Acquisition resulted in a partially diluted beneficial ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Amex Exploration including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Amex Exploration is located at 236-410 St-Nicolas Street, Montreal, Quebec, H2Y 2P5. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294.
2176423 Ontario Ltd.
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1
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