Cantex Closes Final Tranche of Private Placement

LEGAL_30894711.2

Cantex Mine Development Corp. 

203 – 1634 Harvey Ave. 

Kelowna, BC   V1Y 6G2 

250.860.8582 

www.cantex.ca 

CANTEX CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT

Kelowna, BC – March 29, 2019 – Further to earlier news releases, Cantex Mine Development Corp.

( C D : T S X V ) ( t h e “Company”) is pleased to announce the closing of the final tranche (the “ Final

Tranche”) of its previously announced private placement (the “Placement”) resulting in gross proceeds

of $2,514,000 from the issuance of non-flow through units.

Combined with the first and second tranche the Placement has resulted in gross proceeds of $15,000,000,

from the issuance of 3,500,000 flow through shares and 11,500,000 non-flow through units.

All securities issued in the Fi nal Tranche are subject to a hol d period expiring July 30, 2019. The

Placement resulted in the Company paying a total of $145,600 in finders' fees and issuing 130,000

finders’ warrants, having the same terms as the Placement warrants.

Proceeds from the Placement will be applied to the upcoming exp loration program on the Company’s

Rackla project in the Yukon, as well as for general working capital of the Company.

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.