News
Cantex investor acquires 4.5 million units
2019-03-27 15:28 ET - News Release
An anonymous director reports
ACQUISITION OF COMMON SHARES AND WARRANTS OF CANTEX MINE DEVELOPMENT CORP.
Cantex Mine Development Corp. investor Charles E. Fipke, pursuant to the early warning requirements of Multilateral Instrument 62-104 and National Instrument 62-103, has issued this news release with respect to common shares of Cantex mine. On March 22, 2019, Mr. Fipke acquired control over 4.5 million units comprising 4.5 million shares shares and 2.25 million warrants by way of private placement of Cantex having a purchase price of $1 per unit.
Immediately prior to the issuance of the units, Fipke directly and indirectly and as the sole trustee of the discretionary trust fund that indirectly owns the shares and the warrants acquired, held 13,315,968 shares, 5,500 warrants and 270,000 stock options of Cantex (45.55 per cent of the outstanding shares of Cantex, assuming exercise of the options and warrants).
Following issuance of the units, Mr. Fipke has control or ownership and control over 17,813,968 shares, 2,255,500 warrants and 270,000 options, being 45.63 per cent of the outstanding shares of Cantex, assuming exercise of the warrants and the options.
Depending on economic or market conditions, or matters relating to Cantex, Fipke may in the future choose to either acquire control or control and direction over additional securities of Cantex or dispose of securities of Cantex, however he has no current plans to do either.
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