Atex accelerates warrant expiry date to Feb. 20

Executive Summary

• Atex Resources Inc. has accelerated the expiry date of its outstanding common share purchase warrants to February 20, 2026.
• The acceleration was triggered after the company's shares traded at a volume-weighted average price (VWAP) of at least $3.00 for 20 consecutive trading days, satisfying the terms of the warrant agreement.
• Full exercise of the accelerated warrants would generate approximately $52.6 million in gross proceeds for the company.

Key Details

• Warrants Accelerated: 21,057,477 common share purchase warrants originally issued on November 1, 2024.
• Exercise Price: $2.50 per common share.
• New Expiry Date: February 20, 2026.
• Acceleration Trigger: Common shares traded at a VWAP of at least $3.00 on the TSX Venture Exchange for 20 consecutive trading days.
• Potential Gross Proceeds: ~$52.6 million if all warrants are exercised.
• Cancellation Terms: Any unexercised warrants will be cancelled for no additional consideration following the new expiry date.
• Original Warrant Terms: Exercisable until November 1, 2029, subject to the accelerated expiry date.
• Project Context: Atex is exploring the Valeriano copper-gold project in Chile's Atacama region, hosting an indicated resource of 475 million tonnes at 0.88% CuEq and an inferred resource of 1,511 million tonnes at 0.75% CuEq.