Cantex Announces Private Placement
LEGAL_30778833.1
203-1634 Harvey Ave
Kelowna, B.C.
Canada V1Y 6G2
Tel 250.860.8582
Fax 250.860.1362
www.cantex.ca
CANTEX ANNOUNCES PRIVATE PLACEMENT
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES O R F O R
DISTRIBUTION TO U.S. WIRE SERVICES.
Kelowna, BC – March 6, 2019 – Cantex Mine Development Corp. (CD: TSXV) (the “ Company”)
announces that it proposes to undertake a private placement to raise gross proceeds of up to
$10,000,000 (the “Offering”).
The Offering will consist of a c ombination of flow through shar es and non-flow through units each
priced at $1.00, with the units comprised of one common share a nd one half of a warrant. Each whole
warrant entitles the holder to acq uire a further common share o f the Company at a price of $1.50 for a
term of three years, subject to acceleration any time following 4 months from Closing where the stock
closes at or above $2.50 for 20 consecutive trading days.
The Company may pay finder’s fees in connection with the Offeri ng in accordance with the policies of
the TSX Venture Exchange.
Proceeds from the Offering will be used to fund an upcoming exp loration program on the Company’s
Rackla project in the Yukon, expected to include 18,000m of drilling, and for general working capital.
The Offering remains 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.