CANTEX ANNOUNCES CLOSING OF C$2.4 MILLION FINANCING
July 06 2011 - 2:16PM
PR Newswire (Canada)
KELOWNA, BC, July 6, 2011 /CNW/ -- KELOWNA, BC, July 6, 2011 /CNW/
- Cantex Mine Development Corp. (TSXV: CD) (the "Company") is
pleased to announce, further to its news release of June 29, 2011,
the closing of its non-brokered private placement financing (the
"Offering"). The Company raised C$2,400,000 through the issuance of
36,923,077 flow-through shares at a price of C$0.065 per share.
Insiders of the Company subscribed for an aggregate of 7,248,077
shares. There were no agents' commissions or other compensation
paid in connection with the Offering. All securities issued
pursuant to the Offering are subject to a four month hold period
expiring November 1, 2011. The proceeds from the issuance of the
flow-through shares shall be used to finance an exploration program
focused the Company's gold claims in the Yukon Territory and will
qualify as Canadian exploration expenses (as defined in the Income
Tax Act) that will be renounced to the investors. Neither the 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/July2011/06/c3719.html p
Chad Ulansky, President & CEObr/ (250) 860 - 8582br/ a
href="mailto:info@cantex.ca"info@cantex.ca/a /p
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