Cantex Mine Development Corp. announced a non-brokered private placement to issue flow through units at a price of CAD 0.30 per unit, with each FT unit comprised of one flow through share and one-half warrant and non-flow through units at a price of CAD 0.26 per unit, with each unit comprised of one non-flow through share and one-half warrant for the aggregate gross proceeds of CAD 3 million on December 5, 2023. Each whole warrant issued in connection with either the FT units or the NFT units entitles the holder to acquire a non-flow through share at a price of CAD 0.39 for a term of two years.

Rob McEwen has agreed to subscribe for CAD 200,000 of NFT units of this offering from an entity controlled by him, bringing his shareholding in company to over 4.6 million shares. The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange.