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.