Cantex Announces Private Placement
CANTEX ANNOUNCES PRIVATE PLACEMENT
KELOWNA, BC
,
Dec. 23, 2024
/CNW/ -
Cantex Mine Development Corp.
(TSXV: CD) (OTCQB:
CTXDF) (the "Company") announces it has arranged and plans to close a
$600,000
non-brokered
private placement.
The Company will receive proceeds of
$600,000
from the issuance of 4,000,000 common flow-
through shares (the "FT Shares"), which are being issued at
$0.15
per share ("the Offering"). The
securities issued in the Offering are subject to a four month hold period, expiring on
April 24, 2025
.
The Company was charged
$36,000
in finders fees in connection with the Offering. The Company
will also be issuing 200,000 finders warrants; each whole warrant entitles the holder to acquire one
common share of the Company at a price of
$0.15
for a term of two years from closing.
Proceeds from the Offering will be used to fund qualified critical mineral exploration expenditures on
the Company's North Rackla project in the Yukon. 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 drilling 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
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.
SOURCE
Cantex Mine Development Corp.
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For further information:
For further information: Cantex Mine Development Corp, Tel: +250-860-
8582, Email: [email protected]
CO: Cantex Mine Development Corp.
CNW 13:42e 23-DEC-24