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ATEX Resources announced the appointment of Chris Beer to its Board of Directors effective immediately. Beer, who will also serve as Chair of the Audit Committee, brings over 24 years of experience from RBC Global Asset Management.
Concurrently, Rob Suttie is retiring from the Board after serving since December 2018. Beer’s appointment includes the granting of 92,142 restricted share units, which will vest upon his continuous board membership over two years.
The company also announced a $500,000 private placement with Beer, involving the purchase of 337,837 common shares at $1.48 per share, pending approval.
On May 27, 2024, ATEX Resources announced the allocation of 498,487 restricted share units (RSUs) and 430,000 stock options to its officers, directors, and employees. Each stock option allows the holder to purchase one ATEX common share at $1.43 within five years, under the company's Stock Option Plan. Of the RSUs granted, 244,755 will vest over two years, and 253,732 will vest over three years under the company's Restricted Share Unit Plan. Additionally, ATEX received CAD$748,200 from the exercise of 2,121,000 common share purchase warrants between May 15 and May 24, 2024.
ATEX Resources has announced significant assay results from its Phase IV drilling at the Valeriano Copper-Gold Project in Chile. Drill hole ATXD26 intersected 68 meters of 2.02% copper equivalent (CuEq) within a broader 356-meter interval of 0.98% CuEq, and 978 meters at 0.75% CuEq. This marks the discovery of a new, high-grade, hydrothermal system above the projected porphyry target.
ATXD17B also showed promising results, intersecting 504 meters of 0.56% CuEq. The mineralization remains open in all directions, indicating significant potential for further resource expansion. The company received CAD$2.17 million from the exercise of warrants during this period.
The Phase IV program, totaling around 12,000 meters of drilling, has concluded early due to seasonal storms but showed substantial mineralized intervals. Phase V will commence in H2 2024, focusing on extending the high-grade trends identified.
ATEX Resources Inc. announced the positive results of its Annual General and Special Meeting, with all motions approved by shareholders. The new CEO, Ben Pullinger, was appointed to the board of directors. The detailed voting results showed overwhelming support for various resolutions, including setting the number of directors at five and approving the appointment of the Company's auditor and amended stock option and restricted share unit plans.
ATEX Resources Inc. announces the completion of the Phase IV drill campaign at the Valeriano Copper-Gold Project in Chile. Drill hole ATXD25 intersected 862.2 meters of 0.62% CuEq, demonstrating the growth potential at Valeriano. The Valeriano Porphyry system remains open in all directions, with a strike length of approximately 1.2 kilometers. Results suggest the three previously modeled trends of EP are now connected. Raymond Jannas, President and CEO of ATEX, highlights the increased success rate through Phase IV and the potential for a larger EP center trending NW.
