The Prospector News

CANTEX CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

CANTEX CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT

 

 

 

 

 

Cantex Mine Development Corp. (TSX-V: CD) (OTCQB: CTXDF) is pleased to announce the close of the second tranche of its financing.

 

The Company announces that, further to its news releases of December 5 and 7, 2023 announcing a private placement and the close of the first tranche, the Company closed the second tranche of the Offering and has received proceeds of $1,130,000 by the issuance of 3,100,000 flow through units and 769,231 non flow-through units. FT Units were issued at $0.30 per FT Unit and Units were issued at $0.26 per Unit; each FT Unit is comprised of a flow through share and one-half of a non-flow through warrant and each Unit is comprised of one non-flow through share and one-half of a warrant. Each whole warrant entitles the holder to acquire one common share of the Company at a price of $0.39 for a term of two years from closing.

 

Included in the Second Tranche is an investment by Rob McEwen, though an entity controlled by him. With this placement, he brings his shareholding in Cantex to over 4.6 million shares.

 

Proceeds from the Second Tranche will be used to fund the Company’s North Rackla Project in the Yukon and for general working capital.

 

The Company was charged $65,100 in finders fees in connection with the Second Tranche, which was paid in cash; the Company also issued 217,000 finder’s warrants, which have the same terms and conditions as the warrants issued in the Offering.  All warrants issued as part of the finders fee are non-transferable.

 

The securities issued in the Second Tranche are subject to a four month hold period, expiring on April 16, 2024.

 

The Company is looking forward to closing the final tranche of the Offering in the near future.

 

About Cantex Mine Development Corp.

 

Cantex is focused on its 100-per-cent-owned, 20,000-hectare North Rackla project located 150 kilometres northeast of the town of Mayo in Yukon, Canada, where significant massive sulphide mineralization has been discovered. Over 60,000 metres of drilling has defined high-grade silver-lead-zinc-germanium mineralization over 2.3 kilometres of strike length and more than 700 metres depth. The mineralization remains open along strike and to depth. The company is led by Dr. Fipke CM, the founder of Ekati, Canada’s first diamond mine.

 

Posted December 19, 2023

Share this news article

MORE or "UNCATEGORIZED"


NIOB Intersects 211+ Metres of Cumulative Pegmatite with Encouraging Nb-REE Exploration Indicators at Seigneurie; Assays Pending

North American Niobium and Critical Minerals Corp. (CSE: NIOB) (FSE: KS82.F) (OTCQB: NIOMF) has dril... READ MORE

April 29, 2026

Guanajuato Silver Announces Year-End and Q4 2025 Results

Guanajuato Silver Company Ltd. (TSX-V:GSVR)(OTCQX:GSVRF) is pleased to announce financial informatio... READ MORE

April 29, 2026

Trident Intersects 15.11 g/t Au over 51.83m from 256.0m in the BK3 Zone at the Contact Lake Gold Project, Saskatchewan

Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) (Frankfurt: 6BP0) is pleased to announce assay... READ MORE

April 29, 2026

West Point Gold Intersects 18.3m of 6.05 g/t Au and 35.1m of 2.23 g/t Au, Expanding the High-Grade Northeast Tyro Zone to over 400m of Strike Length and to 300m Depth

West Point Gold Corp. (TSX-V: WPG) (OTCQB: WPGCF) (FSE: LRA0) is pleased to announce step-out... READ MORE

April 29, 2026

First Quantum Minerals Reports First Quarter 2026 Results

First Quantum Minerals Ltd. (TSX: FM) today reports results for the three months ended March ... READ MORE

April 29, 2026

Copyright 2026 The Prospector News