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KELOWNA, BC, April 1, 2022 /CNW/ – Cantex Mine Development Corp. (TSXV:CD) (the “Company”) announces that, further to its news release of March 30, 2022 announcing a private placement (the “Offering”), the Company has closed the Offering and has received $5,360,032 by the issuance of 10,052,737 flow through units (the “FT Units”) and 4,812,475 non flow-through units (the “Units”). FT Units were issued at $0.38 per FT Unit and Units were issued at $0.32 per Unit; each FT Unit is comprised of a flow through share and one non-flow through warrant (the “Warrants”) and each Unit is comprised of one non-flow through share and one Warrant. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.48 for a term of two years from closing.
Proceeds from the Offering will be used to fund the upcoming drill program on the Company’s North Rackla Project in the Yukon and for general working capital.
The Company was charged $342,862 in finders fees in connection with Offering. Of this, $75,320 was paid in cash, with the remaining $267,542 in fees settled with the issuance of 836,069 Units priced at a deemed price of $0.32/Unit. The Company…
Full story available on Benzinga.com
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