Cantex Mine Development Corp. has raised $1,006,000 in gross proceeds through the closing of the second tranche of its private placement, directing funds toward its Yukon exploration assets and general corporate needs.

The financing package comprises 2,400,000 charity flow-through units priced at $0.3625 each, 110,000 flow-through shares at $0.30 per share, and 412,000 hard units at $0.25 per unit. Each charity flow-through unit and hard unit includes one-half of a non-flow-through warrant, with whole warrants allowing holders to acquire common shares at $0.40 over a two-year term. This follows the first tranche closing announced on August 12, 2026, which secured gross proceeds of $1,929,900.

Cash finder fees totaling $2,100 were paid in connection with the closing. All securities issued under this second tranche carry a four-month hold period expiring on January 12, 2027.

Proceeds will support ongoing activities at the North Rackla project, where Cantex holds a 100% interest across a 20,000-hectare property located 150 kilometers northeast of the town of Mayo in the Yukon Territory. Exploration at the property has used over 100,000 meters of drilling to define high-grade silver, lead, zinc, and germanium mineralization extending over a 2.80-kilometer strike length and to a depth of at least 700 meters. This mineralization remains open both along strike and at depth, alongside separate discoveries of copper and gold mineralization.

The company plans to close the final tranche of the private placement offering in the near future.

Read the full announcement: CANTEX CLOSED SECOND TRANCHE OF PRIVATE PLACEMENT