CANEX Metals Inc. Upsizes Equity Financing to C$9 Million

Calgary-based CANEX Metals Inc. has announced an increase in its equity financing to C$9 million, driven by strong shareholder demand. The company will offer up to 21,428,571 common shares at C$0.35 each, along with 2,777,778 Charity Flow-Through shares at C$0.54, through a non-brokered private placement.

The financing, targeting accredited investors, is subject to TSX Venture Exchange approval. The proceeds will support exploration and pre-development at CANEX’s Gold Basin/Gold Range and Louise projects, and fulfill obligations from acquiring Gold Basin Resources.

CANEX aims to enhance its exploration endeavors in Arizona and British Columbia, with focus on drill-defined gold deposits and copper-gold resources. The company benefits from a seasoned management team experienced in porphyry discoveries.