Cantex Mine Development Corp. has increased the size of its private placement financing to $3,500,000 following stronger-than-expected investor demand.

The upsized financing consists of charity flow-through units priced at $0.3625 each, flow-through shares priced at $0.30, and hard units priced at $0.25. Each charity flow-through unit comprises one flow-through share and half a non-flow-through warrant, while standard units include one common share and half a warrant. Whole warrants entitle holders to buy non-flow-through shares at $0.40 for two years.

Cantex previously closed an initial tranche under the offering, securing gross proceeds of $1,929,900. The company expects to close subsequent tranches as the remaining placement is finalized.

Proceeds from the offering will be directed toward qualified critical mineral exploration expenditures at the North Rackla project in the Yukon, alongside general operating expenses. The transaction remains subject to acceptance by the TSX Venture Exchange. Finder's fees may be paid in accordance with exchange policies.

Cantex holds a 100% interest in the 20,000-hectare property, located 150 kilometers northeast of Mayo. Exploration work at the site, including more than 100,000 meters of drilling, has mapped silver, lead, zinc, and germanium mineralization across a 2.80-kilometer strike length to a depth of at least 700 meters.

The company plans to execute additional deeper drilling from a winterized drill pad remaining on site, alongside completing metallurgical test work on material from the project.

Read the full announcement: CANTEX UPSIZES PRIVATE PLACEMENT