Company selling 35 million flow-through common shares at C$0.05 each
By Devika Patel
Knoxville, Tenn., Aug. 18 – Cantex Mine Development Corp. said it raised C$750,000 in the first tranche of a C$1.75 million private placement of stock. The deal priced on July 9.
The company is selling 35 million flow-through common shares at C$0.05 each. The price per share is identical to the July 8 closing share price. It sold 15 million shares in the initial tranche.
Proceeds will be used for exploration.
Kelowna, B.C.-based Cantex is a gold, uranium, nickel, copper, cobalt and platinum exploration company.
| Issuer: | Cantex Mine Development Corp.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1.75 million
|
| Shares: | 35 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Pricing date: | July 9
|
| Settlement date: | Aug. 18 (for C$750,000)
|
| Stock symbol: | TSX Venture: CD
|
| Stock price: | C$0.05 at close July 8
|
| Market capitalization: | C$4.11 million
|
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