Cantex Announces Consolidation / Private Placement
LEGAL_29209186.1
203-1634 Harvey Ave
Kelowna, B.C.
Canada V1Y 6G2
Tel 250.860.8582
Fax 250.860.1362
www.cantex.ca
CANTEX ANNOUNCES CONSOLIDATION / PRIVATE PLACEMENT
Kelowna, BC – May 31, 2018 – Cantex Mine Development Corp. (CD: TSXV) (the “ Company”)
announces that it intends to proceed to consolidat e the issued and outstanding common shares of the
Company on a 10 pre-consolidation for 1 post consolidation basis (the “ Consolidation”) and
concurrently therewith proposes to undertake a post consolidation pr ivate placement to raise gross
proceeds of up to $1,750,000 (the “Offering”).
The Offering will consist of a combination of fl ow through and non-flow through units priced at $0.15
per unit, with each unit comprised of one post cons olidation share and one warrant entitling the holder
to acquire a non-flow through post consolidation share at a price of $0.20 for a term of three years.
The Company may pay finder’s fees in connection with the Offering in accordance with the policies of
the TSX Venture Exchange.
Proceeds from the Offering will be used to drill the Northern Gold area of the North Rackla project in
the Yukon as well as the massive sulphide zone of the North Rackla claims (see news release dated
June 28, 2017).
The Offering and the Consolidation remain subject to the acceptance of the TSX Venture Exchange.
Signed,
Charles Fipke
Charles Fipke
Chairman
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.