Business
CORRECTION: CANEX Closes C$2.5 Million Equity Financing and Welcomes Strategic Investor Michael Gentile, CFA
The press release issued on May 27 th , 2022 by CANEX METALS Inc., contained an error in the...
About this update from Canex Metals Inc
[{"type":"text","content":"CORRECTION: CANEX Closes C$2.5 Million Equity Financing and Welcomes Strategic Investor Michael Gentile, CFAThe press release issued on May 27th, 2022 by CANEX METALS Inc., contained an error in the background of Mr. Blair Schultz. The completed and corrected release follows:NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.CALGARY, AB / ACCESSWIRE / May 31, 2022 / CANEX Metals Inc. (\"CANEX\" or the \"Company\") is pleased to announce that it has closed it's previously announced C$2.5 million private placement.HighlightsMr. Michael Gentile, CFA was the lead investor in the financing and owns 10.7% (partially diluted) of the company.Mr. Blair Schultz, a newly appointed director of CANEX also participated in the financing and owns 5.3% (partially diluted) of the Company.Altius Minerals (ALS-T), a founding shareholder of the Company, owns 7.5% of CANEX.The Company will use the proceeds of the financing to significantly advance drill testing of the potential for bulk tonnage oxide gold along a recently expanded mineralized corridor that is now 3.2 kilometres long by up to 500 metres wide at the Gold Range property.Assay results for 28 RC drill holes are pending.The Company welcomes Mr. Michael Gentile, CFA, as a key shareholder and new insider of the Company with 10.7% ownership. Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant positions in over 15 small-cap mining companies. Michael is currently a strategic advisor to Arizona Metals (TSXV:AMC) and a director of Northern Superior Resources (TSXV:SUP), Roscan Gold (TSXV:ROS), Radisson Mining Resources (TSXV:RDS) and Solstice Gold (TSXV:SGC). Michael recently co-founded Bastion Asset Management, an investment management firm based out of Montreal, Quebec and was previously a Senior Portfolio Manager with Formula Growth Limited.Mr. Blair Schultz, recently appointed to the board of Directors of CANEX, also participated in the financing and currently owns 5.3% of the Company. Mr. Schultz has over 25 years of capital markets and financial experience including several mining senior executive roles and brings significant merger and acquisition knowledge to the board. Among his successes includes time spent at Klondex Mines (TSX: KDX) where he played an active role with the Board and Manag...