Crescat Increases Investment and Cantex Upsizes Private Placement to $5 Million
CRESCAT INCREASES INVESTMENT AND
CANTEX UPSIZES PRIVATE PLACEMENT TO
$5 MILLION
KELOWNA, BC
,
July 22, 2025
/CNW/ -
Cantex Mine Development Corp.
(TSXV: CD) (the
"Company"). Further to its news release of
July 11, 2025
, the Company is pleased to announce that,
due to added interest, it has elected to increase the amount of its previously announced private
placement to
$5,000,000
. All other terms remain the same.
Cantex is pleased to announce that Crescat Capital has increased its participation in the placement
to
$800,000
.
The Company will be using the proceeds of the placement on its soon to commence summer drill
program at North Rackla where the Company will be focused on expanding the mineralization at its
zinc-lead-silver-germanium Massive Sulphide project and also testing new targets at the Copper
project where previous drilling has intersected up to 7.32% copper (see news release of
April 13,
2023
).
The Offering
The Offering will be comprised of a combination of charity flow through units ("CFT units") and hard
units ("Units") for total gross proceeds of
$5,000,000
. The CFT units will be priced at
$0.21
per unit,
with each CFT unit comprised of one flow through share and one non-flow through warrant. Units will
be priced at
$0.14
per unit, with each Unit comprised of one common share and one non-flow
through warrant. Each whole warrant issued in connection with either a CFT unit or a Unit entitles the
holder to acquire a non-flow through share at a price of
$0.21
for a term of three years. The
Offering is proposed to consist of 21,261,903 CFT units and 3,821,429 Units and remains subject to
the acceptance of the TSX Venture Exchange.
About Cantex
Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers
northeast of the town of Mayo in the
Yukon Territory, Canada
where high-grade massive sulphide
mineralization has been discovered. Over 86,000 meters of drilling has defined high grade silver-
lead-zinc-germanium mineralization over 2.65 kilometers of strike length and at least 700 meters
depth. The mineralization remains open along strike and to depth. The Company is led by Dr.
Charles Fipke
, C.M., the founder of Ekati,
Canada's
first diamond mine.
The technical information and results reported here have been approved by Mr.
Chad Ulansky
P.Geol
., a Qualified Person under National Instrument 43-101, who is responsible for the technical
content of this release. Mr Ulansky is the Company's President and CEO.
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
release.
SOURCE
Cantex Mine Development Corp.
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For further information:
For further information: Cantex Mine Development Corp, Tel: +250-860-
8582, Email: [email protected]
CO: Cantex Mine Development Corp.
CNW 06:00e 22-JUL-25