Amex Exploration Announces AGM Results and Board Changes
July 03, 2025 7:00 AM EDT | Source: Amex Exploration Inc.
Montreal, Quebec--(Newsfile Corp. - July 3, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that at the annual general and special meeting of the Company's shareholders held on June 30, 2025 (the "Meeting") shareholders voted in favour of, and approved, all items of business.
The Company's shareholders elected all director nominees, including incumbent directors Victor Cantore, Pierre Carrier, André Shareck, Yvon Gélinas, and Luisa Moreno and new directors Phillip S. Brumit Sr. and Peter Damouni. Jacques Trottier, a director of the Company since 2002 and its longstanding Executive Chairman, retired from the Company and did not stand for re-election at the Meeting.
Victor Cantore, President and CEO of Amex, said, "I along with the entire management team and board of directors, would like to thank Jacques for his leadership and invaluable contributions to the Company over the years. I have thoroughly enjoyed collaborating with Jacques during my tenure at Amex and I wish him well in his retirement."
Shareholders also re-appointed Raymond Chabot Grant Thornton LLP, Chartered Professional Accountants, as auditor of the Company and adopted an ordinary resolution to ratify and confirm the Company's new omnibus equity incentive plan (the "Omnibus Plan") to replace its current incentive stock option plan (the "Option Plan").
The Omnibus Plan is a "rolling up to 10%" Security Based Compensation Plan, as defined in Policy 4.4 - Security Based Compensation of the TSX Venture Exchange (the "TSXV"), pursuant to which the number of common shares in the capital of the Company (the "Shares") that are issuable upon the exercise of equity awards granted under the Omnibus Plan (collectively, the "Awards") shall not exceed 10% of the issued and outstanding shares of the Company as at the date of any Award grant, subject to adjustment as provided in the Omnibus Plan.
The Omnibus Plan was conditionally approved by the TSXV on May 6, 2025. It remains subject to the final acceptance of the TSXV and must be re-approved by shareholders on an annual basis at the Company's annual meeting of shareholders in accordance with the policies of the TSXV. It replaces the Company's previous Option Plan, originally adopted on May 4, 2022, as approved by shareholders on an annual basis and amended from time to time.
The Company's Compensation Committee determined that it would be desirable to have a wider range of incentive awards, including stock options, restricted share units, performance share units, deferred share units, and other share-based Awards to attract, retain and motivate employees, directors, executive officers and consultants of the Company. Subject to compliance with the policies of the TSXV, all outstanding incentive stock options granted under the Option Plan shall continue to be outstanding and remain in force in accordance with their existing terms.
The terms and conditions of grants of Awards, including the quantity, type of award, grant date, vesting conditions, vesting periods, settlement date, the impact of certain events upon the rights of holders of these types of Awards (including termination for cause, resignation, retirement, termination other than for cause and death or long-term disability), and other terms and conditions with respect to these Awards, will be set out in a participant's Award agreement.
For more information, please see the management information circular in respect of the Meeting dated May 12, 2025, which includes a summary of the Omnibus Plan and a copy thereof as Schedule E, available via the Company's profile on SEDAR+ at www.sedarplus.ca.
Perron West Project
Further to the Company's news releases dated March 25, 2025 and April 10, 2025 in respect of the acquisition of the Perron West Project (the "Transaction"), the Company wishes to correct the disclosure and clarify that there is no option under the asset purchase agreement in respect of the Transaction to pay the Milestone Payments (as defined in the news releases) in common shares in the capital Company.
About Amex Exploration Inc.
Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 km north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.
When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.
The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257655
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