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Cantex Provides an Update ON Financing

Financings

CANTEX PROVIDES AN UPDATE ON

FINANCING

KELOWNA, BC

,

June 16, 2023

/CNW/ -

Cantex Mine Development Corp.

(TSXV: CD) (the

"Company") announces that, further to its news release of

April 28, 2023

announcing the closing of

the first tranche of its private placement (the "Offering"), the Company has been advised by the TSX

Venture Exchange that it has received a 30-day extension of the Offering from the date of this news

release.

Signed,

Charles Fipke

Charles Fipke

Chairman of the Board

FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press

release constitute "forward-looking statements" or "forward-looking information", including

statements regarding the expected use of proceeds of the private placement. Further, any

statements or information that express or involve discussions with respect to predictions,

expectations, beliefs, plans, projections, objectives, assumptions or future events or performance

(often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans",

"estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or

stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken,

occur or be achieved, or the negative of any of these terms and similar expressions) are not

statements of historical fact and may be forward-looking statements or information. The

Company's forward-looking statements and information are based on the assumptions, beliefs,

expectations and opinions of management as of the date of this press release, and other than as

required by applicable securities laws, the Company does not assume any obligation to update

forward-looking statements and information if circumstances or management's assumptions,

beliefs, expectations or opinions should change, or changes in any other events affecting such

statements or information. For the reasons set forth above, investors should not place undue

reliance on forward-looking statements and information.

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.

View original content:

http://www.newswire.ca/en/releases/archive/June2023/16/c2506.html

%SEDAR: 00010333E

For further information:

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

[email protected]

CO: Cantex Mine Development Corp.

CNW 23:59e 16-JUN-23