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ROB McEWEN BRINGS HIS STRATEGIC INVESTMENT IN CANTEX TO OVER 4.6 MILLION SHARES
ROB McEWEN BRINGS HIS STRATEGIC INVESTMENT IN CANTEX TO OVER 4.6 MILLION SHARES Canada ...
About this update from Cantex Mine Development Corp.
[{"type":"text","content":"\n \n \n \n ROB McEWEN BRINGS HIS STRATEGIC INVESTMENT IN CANTEX TO OVER 4.6 MILLION SHARES\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. WIRE SERVICES./\n \n \n \n \n KELOWNA, BC\n \n \n ,\n \n \n Dec. 5, 2023\n \n \n /CNW/ -\n \n Cantex Mine Development Corp.\n \n (TSXV: CD) (OTCQB: CTXDF) (the \"Company\") is pleased to announce that it will undertake an additional non-brokered private placement to raise gross proceeds of up to\n \n $3,000,000\n \n (the \"Offering\") for additional drilling commencing this spring on the North Rackla project.\n \n \n \n \n \n \n \n \n \n \n The Offering\n \n \n \n The Offering will be comprised of a combination of flow through units (\"FT units\") and non-flow through units (\"NFT Units\") for total gross proceeds of up to\n \n $3,000,000\n \n . The FT units will be priced at\n \n $0.30\n \n per unit, with each FT unit comprised of one flow through share and one-half warrant; the Units will be priced at\n \n $0.26\n \n per unit, with each Unit comprised of one non-flow through share and one-half warrant. Each whole warrant issued in connection with either the FT Units or the NFT Units entitles the holder to acquire a non-flow through share at a price of\n \n $0.39\n \n for a term of two years.\n \n \n \n Rob McEwen\n \n has agreed to subscribe for\n \n $200,000\n \n of NFT Units of this Offering from an entity controlled by him, bringing his shareholding in Cantex to over 4.6 million shares. He is the founder and former Chairman of Goldcorp which was acquired by Newmont Mining in 2019 for\n \n US$10 billion\n \n . Mr. McEwen is currently the Executive Chairman and Chief Owner of McEwen Mining Inc. and is a member of the Mining Hall of Fame.\n \n \n 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 the Company's North Rackla drill p...