ATEX Announces Receipt of $52.5 Million from Warrant Exercises

The most recent news release (February 20, 2026) announces the receipt of CAD $52.5 million in gross proceeds resulting from the exercise of 21,057,477 common share purchase warrants at a price of $2.50 per share. This exercise was triggered by a warrant acceleration notice issued on January 21, 2026, after the company’s share price exceeded the $3.00 threshold for the required period.

Simultaneously, ATEX is expanding its Phase VI drill program at the Valeriano Project by 5,000 meters (bringing the total program to 30,000 meters). The expansion focuses on the "B2B Zone" and surrounding high-grade breccia targets. The company reports a current cash balance of approximately CAD $140 million and an updated share count of 368,000,000 issued and outstanding common shares.

The impact is Material - Positive for the following reasons: - Treasury Strength: The CAD $52.5 million injection brings the total cash to $140 million. This provides a multi-year runway and fully funds not only the current Phase VI expansion but likely the entirety of the 2026-2027 exploration and engineering schedule without the need for dilutive brokered financing at a discount. - De-risking via Liquidity: In a volatile copper market, having $140 million in cash eliminates "financing risk," which is a primary killer of junior developers. - Operational Momentum: The expansion of the Phase VI program suggests the technical team is seeing significant enough results in the B2B Zone to justify immediate follow-up. This follows the February 12, 2026, news of 56 meters at 2.36% CuEq, which demonstrated the high-grade core is expanding. - Clean Capital Structure: By forcing the exercise of the $2.50 warrants, the company has cleared a significant overhang. The remaining warrants are the "Tranche 2" warrants (42.3M) with a much higher exercise price of $4.00.

ATEX Resources is a Canadian exploration company focused on the Valeriano Copper-Gold Project in the Atacama Region of Chile. The project is located in the "Link Belt" between the El Indio and Maricunga belts. - Flagship Project: Valeriano is a large-scale copper-gold porphyry system with a high-grade core and overprinting epithermal breccias (the B2B Zone). - MRE (Sept 2025): 475 million tonnes at 0.88% CuEq (Indicated) and 1.5 billion tonnes at 0.75% CuEq (Inferred). - Recent Success: Phase VI has targeted the "B2B Zone," which has consistently returned grades significantly higher than the average resource grade (e.g., 2.36% CuEq and 2.72% CuEq intercepts).