CANEX Metals Increases Equity Financing Due to Shareholder Demand

CANEX Metals Inc., a Canadian exploration company, announced an increase in its non-brokered private placement. The company will now offer up to 3,000,000 common shares and 5,250,000 flow-through common shares, aiming for gross proceeds of up to $450,000. Common shares are priced at $0.045 each, while flow-through shares will be offered at $0.06.

The funds from the flow-through shares are earmarked for exploration at the Louise Property and are expected to qualify under Canada's Tax Act as critical mineral flow-through mining expenditures. Funds from common shares will support the Gold Range Project in Arizona and general working capital.

This financing is contingent on TSX Venture Exchange and regulatory approvals, eliminating broker commissions. No valuation and minority shareholder approval are required under MI 61-101 exemptions, as the placement does not surpass 25% of the company's market capitalization.