KELOWNA, BC, June 17, 2011 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company", "Cantex") wishes to announce that it will
be conducting a non-brokered, "best-efforts" private placement of
approximately C$2 million of Cantex securities consisting of
"flow-through" common shares at an issue price of $0.065 per share,
subject to regulatory approval.
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
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.
SOURCE Cantex Mine Development Corp.
For further information:
Chad Ulansky, President & CEO
(250) 860 - 8582