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Cantex Mine Development Raises CA$3.82 Million As It Closes Final Tranche Of Private Placement

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Cantex Mine Development (CD.V) closed the final tranche of its private placement offering, raising a total of CA$3.82 million, it said in a statement late Friday.

The company issued 200,000 flow-through (FT) shares and 3.3-million hard units at CA$0.25 per unit raising CA$883,350, with each unit comprised of one common share and one-half of a non-flow through two-year warrant. FT shares were issued at CA$0.30 each, with no warrants attached to them, it said.

Each whole warrant issued entitled the holder to buy a non-flow through share at CA$0.40 apiece. The company will use proceeds from the final tranche to fund its North Rackla Project in the Yukon and for general working capital needs.

Shares of the company were last seen up 1.7% at CA$0.295 on the TSX Venture Exchange.

Price: $0.30, Change: $+0.01, Percent Change: +1.72%

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