CANEX Metals Completes Final Tranche of Equity Financing

CANEX Metals Inc. has successfully completed the second and final tranche of its non-brokered private placement. The funds raised will support the advancement of the Louise copper-gold porphyry project in British Columbia and the Gold Range oxide gold project in northern Arizona.

The financing comprised 3,000,000 common shares and 5,033,365 flow-through common shares, generating gross proceeds of $437,000. Common shares were priced at $0.045, while flow-through shares were offered at $0.06. The latest tranche included 555,555 common shares and 416,700 flow-through shares.

Proceeds from flow-through shares will fund exploration at the Louise Property, qualifying as critical mineral expenses under Canadian tax law. The other funds will further the Gold Range Project and support general corporate needs. Insiders participated strongly, purchasing 9.2% of the issuance.