Eric Sprott Announces Changes to His Holdings in Amex Exploration Inc

Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation beneficially owned by him, sold 14,868,200 common shares (Shares) of Amex Exploration Inc., through a private agreement, at $4.00 per Share for total consideration of $59,472,800.

Prior to the disposition, Mr. Sprott beneficially owned and controlled 14,868.200 Shares and 435,000 Share purchase warrants (Warrants), representing approximately 10.5% of the outstanding Shares on a non-diluted basis and 10.8% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants. Mr. Sprott now beneficially owns and controls 435,000 Warrants, representing approximately 0.3% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants.

The disposition, combined with prior Share issuances by Amex Explorations, resulting in (i) Mr. Sprott's beneficial ownership position to decrease by approximately 11.9% on a partially diluted basis since the date of the last early warning report and (ii) Mr. Sprott's beneficial ownership position to decrease to below 10% on a partially diluted basis. As a result, Mr. Sprott and 2176423 Ontario ceased to be insiders of Amex Exploration.

The Warrants are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278353