Cantex Closes First Tranche of Private Placement
Cantex Closes First Tranche of Private
Placement
KELOWNA, BC
,
Aug. 14, 2020
/CNW/ - Further to its news release of
July 27, 2020
,
Cantex Mine
Development Corp.
(TSXV: CD) (the "
Company
") is pleased to announce the closing of the first
tranche of its
$5,000,000
non-brokered private placement (the "
Placement
") of flow through and
charity flow through shares. In this closing, the Company issued 668,000 flow through shares (the
"
Shares
") for gross proceeds of
$1,135,600
. These Shares were sold at a price of
$1.70
per
Share.
The Shares issued in this closing are subject to a hold period expiring
December 15, 2020
. Finders'
fees of
$47,731
were paid in connection with this tranche of the Placement.
Proceeds from the Placement will be applied to the upcoming exploration 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
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:
Cantex Mine Development Corp, Tel: +250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 17:31e 14-AUG-20