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05.05.2020
Results of AGM and New Board Member Bryan Coates

 

MONTREAL, CANADA - MAY 5, 2020 - Amex Exploration Inc. (“Amex or the Company”) (TSX-V: 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: 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.

 

Cautionary statement

 

The information contained in this press release may contain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding the business development activities and future exploration plans. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Amex’s management expectations, estimates or projections concerning future results or events based on the opinions and assumptions of management considered reasonable at the date the statements are made. Although Amex believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown and unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the maintenance of confinement and related government measures and guidelines in dealing with the Covid-19 pandemic, labour shortages, equipment shortages and interruptions in the supply chains, changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws, environmental matters; and compliance with extensive government regulation. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Amex Exploration 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. Amex Exploration does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable laws.



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