Cantex confirm share consolidation

KELOWNA, BC, June 17, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSX-V) (the "Company") it has completed the consolidation of its issued common shares on the basis of one (1) "new" common share for fifteen (15) "old" common shares as approved by the TSV Venture Exchange and consented to by the shareholders at the Company's annual general and special meeting held on January 25, 2013. Effective at the opening on June 18, 2013, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis.  There is no change to the Company's name or trading symbol.

Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded to the nearest whole number.

Following the consolidation and subject to rounding, the Company will have issued and outstanding 27,109,891 common shares, 982,667 stock options with a weighted average price of $1.50 per share and 566,667 warrants with a weighted average price of $1.50 per share.

Signed,

Chad Ulansky

Chad Ulansky
President & CEO

Neither 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:

Cantex Mine Development Corp, Tel: +250-860-8582, Email: info@cantex.ca

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Cantex Mine Development Corp.

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