Cantex Mine Development Corp. announced a non-brokered private placement of flow through units at a price of CAD 0.37 per flow-through unit and non-flow through unit at a price of CAD 0.32 per unit for gross proceeds of up to CAD 1,400,000 on April 17, 2023. Each flow through unit comprised of one flow through share and one-half warrant.

Each unit comprised one non-flow through common share and one-half warrant. Each whole warrant issued in connection with either the flow through units or the units entitles the holder to acquire a non-flow through share at a price of CAD 0.45 for a term of two years. The company may pay finder's fees in connection with the transaction in accordance with the policies of the TSX Venture Exchange.

The securities issued pursuant to the offering will be subject to a four month hold period from the date of issue of the units. The offering remains subject to the acceptance of the TSX Venture Exchange.