KELOWNA, BC, July 9, 2014 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) (the "Company") wishes to announce that it intends to proceed with a private placement of its securities so as to raise up to $1,750,000 (the "Offering"). The Offering is comprised of flow-through shares at a price of $0.05 per share.
The Company may pay a finder's fee in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
Proceeds from the Offering are to be used to define drill targets and to commence drilling on the Company's seven claims groups located in central Yukon.
As previously disclosed by the Company, the claims groups host predominant areas within the claims with anomalous key heavy mineral pathfinder results indicative of Carlin type mines and deposits in Nevada and the Yukon. In particular, gold and key pathfinder elements are exceedingly anomalous in at least one of the claims groups in magnitudes compared to those obtained downstream from the Carlin mine in Nevada.
The Offering remains subject to the acceptance of the TSX Venture Exchange.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
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: [email protected]