Atex arranges $85-million bought deal offering

Executive Summary

• Atex Resources Inc. has entered into a bought deal private placement agreement with BMO Capital Markets and Desjardins Capital Markets to raise approximately C$85 million.
• The company will issue 32.7 million units at a price of $2.60 per unit, with net proceeds designated for the exploration and development of the Valeriano project in Chile and general working capital.
• Each unit consists of one common share and one common share purchase warrant exercisable at $4.00 per share for four years, with an acceleration clause available if the share price exceeds $5.00 for 20 consecutive days.

Key Details

• Gross Proceeds: Approximately C$85 million.
• Units Issued: 32.7 million units.
• Price Per Unit: $2.60.
• Use of Proceeds: Exploration and development of the Valeriano project (Atacama region, Chile) and general working capital.
• Underwriters: BMO Capital Markets and Desjardins Capital Markets (syndicate).
• Structure: Bought deal private placement.
• 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 maturity if the volume-weighted average price of common shares exceeds $5.00 for 20 consecutive trading days, starting 12 months after closing.
• Overallotment Option: Underwriters have an option to purchase up to 15% additional securities (units, shares, warrants) to cover overallotments, 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).
• Closing Date: Scheduled on or about November 6, 2025.
• Regulatory Conditions: Subject to receipt of necessary regulatory approvals, including TSX Venture Exchange approval.
• Hold Period: Four months and one day from the closing date.
• Jurisdiction: Offered via private placement in Canada (NI 45-106) and the US (Securities Act of 1933 exemption).

Notable Quotes

• None provided in the text.