Amex Appoints New CEO and Consolidates Its Shares
MONTREAL, QC--(Marketwired - December 08, 2016) - Amex Exploration Inc. ("Amex") (TSX VENTURE: AMX)is pleased to announce that Mr. Victor Cantore has been appointed President and Chief Executive Officer of Amex. Mr. Cantore has extensive experience in the areas of mineral exploration and corporate finance. Mr. Jacques Trottier will become the Executive Chairman of the Board of Directors and continue to focus on Amex's exploration activities.
Mr. Cantore stated: "I would first like to thank Dr. Trottier for his long-time commitment and dedication to the Corporation. As incoming President and CEO, my objective will be to further advance the company to new grounds and success levels by combining Jacques's unquestionable geological skills and experience to my own financial and corporate development expertise."
In addition, the Board has approved the consolidation of its issued and outstanding common shares on a five-for-one (5:1) basis. Amex expects the consolidation will be effective, on or about December 23, 2016, at the commencement of trading. The trading symbol will remain unchanged. As there are currently 73,921,425 common shares outstanding, there will be 14,784,285 post consolidation common shares outstanding, subject to minor adjustments. No fractional shares will be issued as a result of the share consolidation and fractional interests will be rounded up to the nearest whole number. Registered shareholders will receive a letter of transmittal from the Company's transfer agent as soon as practicable. The letter of transmittal will enable registered shareholders to exchange their old share certificates representing pre-consolidation common shares for post-consolidation common shares. Until surrendered, each share certificate representing pre-consolidation common shares will represent the number of whole post consolidation common shares to which the holder is entitled as a result of the consolidation. Shareholders who hold their common shares in brokerage accounts are not required to take any action to effect the exchange of their common shares.
The consolidation remains subject to TSX-V Exchange approval and compliance with regulatory requirements.
Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.
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.
Contact
For additional information, contact:
Mr. Victor Cantore
Tel. (514) 866-8209
