Cantex Announces Closing of First Tranche of a Non- Brokered Private Placement
Cantex Mine Development Corp.
Cantex Mine Development Corp.
203 – 1634 Harvey Ave.
Kelowna, BC V1Y 6G2
250.860.8582
www.cantex.ca
CANTEX ANNOUNCES CLOSING OF FIRST TRANCHE OF A NON-
BROKERED PRIVATE PLACEMENT
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES.
Kelowna, Canada – August 6, 2025 – Cantex Mine Development Corp. (CD: TSXV; CTXDF: OTCQB ) (the
“Company”) is pleased to announce that it has closed the first tranche of its previously announced non-brokered
private placement (the “Offering”). The first tranche of the Offering consisted of 4,839,999 charity flow through
units (“CFT Units”) at $0.21 per CFT Unit and 5,731,372 hard units (“ Units”) at $0.14 per Unit for total gross
proceeds of $ 1,818,791.87. Each CFT Unit is comprised of one flow through share and one non-flow through
warrant. Each Unit is comprised of one common share and one non-flow through warrant. Each whole warrant
issued in connection with the Offering entitles the holder to acquire one common share at a price of $0.21 for a
term of three years.
0974052 B.C. Ltd. ("BC Ltd"), a company over which Dr. Charles Fipke, the Chairman and a control person of the
Company exercises control and direction over, subscribed for 3,571,429 Units for a total subscription price of
$500,000. The issuance of the Units to BC Ltd. constitutes a “related party transaction” as defined in Multilateral
Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company
is relying on the exemption from valuation requirements and minority approval pursuant to subsections 5.5(a)
and 5.7(1)(a) of MI 61- 101, respectively, for the Insider participation in the Offering, as the value of the Units
subscribed for do es not represent more than 25% of the Company’s market capitalization, as determined in
accordance with MI 61-101.
In connection with the closing of the first tranche of the Offering, the Company paid an aggregate cash finders’
fee of $36,652 and issued an aggregate of 391,692 non-transferable finders’ warrants (the “Finder’s Warrants”)
to certain arm’s length finders. Each Finder’s Warrant entitles the holder to purchase one common share (a
“Finder Share”) at an exercise price of $0.21 per Finder Share for a period of three years from the date of
issuance of the Finder’s Warrant.
Proceeds from the Offering will be used to fund qualified critical mineral exploration expenditures on the
Company’s North Rackla project in the Yuko n and for general ope rations. The Offering remains subject to the
acceptance of the TSX Venture Exchange.
About Cantex
Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of
the town of Mayo in the Yukon Territory, Canada where high -grade massive sulphide mineralization has been
discovered. Over 60,000 meters of drillin g has defined high grade silver- lead-zinc-germanium mineralization
over 2.3 kilometers of strike length and 700 meters depth. The mineralization remains open along strike and to
depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada’s first diamond mine.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a
Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
Signed,
Chad Ulansky
Chad Ulansky
President and CEO
For further information:
Cantex Mine Development Corp
Tel: +250-860-8582
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.