Atex Resources increases bought deal financing to $96M

Executive Summary

• Atex Resources Inc. has increased its previously announced bought deal financing to C$96 million in aggregate gross proceeds, driven by strong investor demand.
• The company is issuing 36.75 million units at a price of $2.60 per unit to fund the exploration and development of its Valeriano copper-gold project in Chile and for general working capital.
• The offering includes warrants exercisable at $4.00 per share for four years, with an acceleration clause allowing early maturity if the share price exceeds $5.00 VWAP for 20 consecutive days.

Key Details

• Financing Structure: Bought deal of 36.75 million units.
• Price: $2.60 per unit.
• Gross Proceeds: Approximately C$96 million.
• Use of Proceeds: Exploration and development of the Valeriano project (Atacama region, Chile) and general working capital.
• Warrant Terms: Each unit includes one common share purchase warrant.
  • Exercise Price: $4.00 per warrant share.
  • Term: Four years from closing.
  • Acceleration Right: Atex may accelerate warrant maturity if the common share trades at a volume-weighted average price (VWAP) above $5.00 for 20 consecutive trading days, beginning 12 months after closing.
• Underwriter Option: The underwriters have an option to purchase up to 15% additional securities (overallotment) exercisable up to 48 hours prior to closing.
• Underwriter Fees: 5.00% of gross proceeds, reduced to 2.00% for specific "president's list" purchasers.
• Regulatory/Listing: Offered via private placement in Canada under NI 45-106. Subject to TSX Venture Exchange approval.
• Closing Date: Scheduled on or about November 6, 2025.
• Hold Period: Four months and one day from the closing date.
• Project Context (Valeriano):
  • Located in the Atacama region, Chile, within the "Link belt" copper-gold porphyry mineral belt.
  • Indicated Resource: 475 million tonnes at 0.88% CuEq (0.58% Cu, 0.25 g/t Au, 1.39 g/t Ag, 70.4 g/t Mo) at a 0.35% Cu cut-off.
  • Inferred Resource: 1,511 million tonnes at 0.75% CuEq (0.50% Cu, 0.20 g/t Au, 1.16 g/t Ag, 70.6 g/t Mo) at a 0.35% Cu cut-off.
  • Resource reported on September 23, 2025.

Notable Quotes

• No direct quotes from management were included in the provided text.