Cantex Common Shares Qualified FOR Trading ON the OTCQB Market IN the U.s.

CANTEX COMMON SHARES QUALIFIED FOR

TRADING ON THE OTCQB MARKET IN THE

U.S.

KELOWNA, BC

,

Aug. 9, 2022

/CNW/ - Cantex Mine Development Corp. (TSXV: CD)

(

the

"Company

"

)

announces that its common shares have qualified to trade on the OTCQB® Venture

Market (the "

OTCQB

"), and has commenced trading under its existing symbol of "CTXDF". The

Company upgraded to OTCQB from the Pink® Open Market. The Company's common shares will

also continue to trade on the TSX Venture Exchange under the symbol "CD".

The Company is also pleased to announce that its common shares are now eligible for electronic

clearing and settlement through the Depository Trust Company in

the United States

.

Management believes that this upgrade on the OTCQB will provide additional liquidity to the

Company's shares by allowing U.S. investors easier trading options. As part of this process, the

Company has undergone a verification and management certification process. The OTCQB market

is recognized by the U.S. Securities and Exchange Commission as an established public market and

will provide investors who cannot access trading on the TSX Venture Exchange with alternative

access to Cantex's shares through regulated U.S. broker-dealers.

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 press release.

SOURCE

Cantex Mine Development Corp.

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For further information:

Cantex Mine Development Corp, Tel: +1-250-860-8582; Email:

[email protected] CO: Cantex Mine Development Corp

CO: Cantex Mine Development Corp.

CNW 18:02e 09-AUG-22