/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES./
KELOWNA, BC, Oct. 5, 2021 /CNW/ - Cantex Mine Development
Corp. (TSXV: CD) (the "Company") announces that it will
undertake a non-brokered private placement to raise gross proceeds
of up to $4,000,000 (the
"Offering").
The Offering will consist of flow through units priced at
$0.50 per unit, with each unit
comprised of one flow through share and one-half warrant.
Each whole warrant entitles the holder to acquire a non-flow
through share at a price of $0.65 for
a term of two years.
The Company may pay finder's fees in connection with the
Offering in accordance with the policies of the TSX Venture
Exchange. Proceeds from the Offering will be used to fund upcoming
drill programs on the Company's North Rackla project in the
Yukon.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the
United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the
United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
The securities issued pursuant to the Offering will be subject
to a four month hold period from the date of issue of the
units. The Offering remains subject to the acceptance of the
TSX Venture Exchange.
Signed,
Charles Fipke
Charles Fipke
Chairman
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.
