CANTEX TO COMPLETE FINANCING INVOLVING CRESCAT CAPITAL TO DRILL SILVER-LEAD-ZINC-GERMANIUM MASSIVE SULPHIDE, COPPER AND GOLD ON ITS NORTH RACKLA CLAIMS, YUKON
Cantex Mine Development secures financing for North Rackla drilling as metallurgical de-risking advances at the project.
Cantex Mine Development Corp. (CD) announced a non-brokered private placement to raise up to C$3,000,000. The offering includes Charity Flow Through (CFT) units at $0.3625, Flow Through (FT) shares at $0.30, and Hard Units at $0.25. Warrants attached to CFT and Hard Units are exercisable at $0.40 for a two-year term.
Crescat Capital is increasing its existing investment in the company through this placement. Proceeds are designated for qualified critical mineral exploration on the North Rackla project and general operating costs. The offering remains subject to TSX Venture Exchange acceptance.
Cantex Mine Development Corp. (CD) is conducting a routine follow-up financing to support its ongoing 2026 drill program, building on previous capital raises completed in July 2025 and April 2026. Crescat Capital has increased its commitment to the offering, a move that signals insider and strategic confidence, though it does not constitute a new strategic partnership or a game-changing event.
The financing is priced between $0.25 and $0.3625, which sits above the company’s recent trading range of $0.21 to $0.25, indicating some market support. However, the $0.40 warrant exercise price creates a potential near-term overhang. While the capital raise extends the company’s financial runway, it does not alter the fundamental pre-revenue, high-risk exploration status of the business. The transaction is expected and incremental in nature.
Cantex Mine Development Corp. is a pre-revenue exploration company focused on its 100% owned North Rackla project in the Yukon, Canada. The flagship Massive Sulphide project hosts high-grade silver-lead-zinc-germanium mineralization over a 2.8 km strike length and 700m depth, remaining open. Management includes Dr. Charles Fipke, Chairman, who is known for discovering Canada's first diamond mine, Ekati. The company also holds suspended projects in Yemen, specifically Al Hariqah and Al Masna, under force majeure. Metallurgical testwork involving XRT sorting and flotation has shown high recovery rates for lead and zinc concentrates, with silver credits up to 960 g/t.