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CANTEX CLOSES FINAL TRANCHE OF OVER SUBSCRIBED PRIVATE PLACEMENT WITH A FURTHER INVESTMENT BY CRESCAT CAPITAL LLC
CANTEX CLOSES FINAL TRANCHE OF OVER SUBSCRIBED PRIVATE PLACEMENT WITH A FURTHER INVESTMENT BY CRE...
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n \n \n \n CANTEX CLOSES FINAL TRANCHE OF OVER SUBSCRIBED PRIVATE PLACEMENT WITH A FURTHER INVESTMENT BY CRESCAT CAPITAL LLC\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n KELOWNA, BC\n \n \n ,\n \n \n Jan. 16, 2024\n \n \n /CNW/ -\n \n Cantex Mine Development Corp.\n \n (TSXV: CD) (OTCQB: CTXDF) (the \"Company\") is pleased to announce the close of the final tranche of its financing.\n \n \n \n \n \n \n \n \n \n The Company announces that, further to its news releases of\n \n December 5\n \n , 7, 18, and 29, 2023 announcing a private placement (the \"Offering\") and the close of the first three tranches, the Company has closed the final tranche of the Offering (\"the Final Tranche\") and has received proceeds of\n \n $200,200\n \n from the issuance of 770,000 units (the \"Units\"), which includes a participation from our previously announced strategic partner Crescat Capital LLC (\"Crescat\").  Units were issued at\n \n $0.26\n \n per Unit, with each Unit comprised of a non-flow through share and one-half of a non-flow through warrant.  Each whole warrant entitles the holder to acquire one common share of the Company at a price of\n \n $0.39\n \n for a term of two years from closing.\n \n \n The Company was charged\n \n $14,000\n \n in finders fees in connection with the Final Tranche, which was settled with the issuance of 53,846 Units at a deemed price of\n \n $0.26\n \n /Unit. The Units issued as settlement of the fees are comprised of 53,846 non-flow through shares and 26,923 warrants; the warrants are exercisable for a period of two years from issuance and have an exercise price of\n \n $0.39\n \n .  The Company also issued 53,846 finders 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.\n \n \n Combined with the first, second and third tranches, the over subscribed Offering has resulted in gross proceeds of\n \n $3,000,190\n \n from the issuance of 8,599,966 FT Units and 1,616,154 ...