RE:of interestbandi10 wrote: Form 62-103F3
REQUIRED DISCLOSURE BY AN ELIGIBLE INSTITUTIONAL INVESTOR UNDER PART 4
Item 1 – Security and Reporting Issuer
1.1 State the designation of securities to which this report relates and the name and address of the head office of the issuer of the securities.
1. Common shares (the “Common Shares”) and warrants (the “Warrants”) of Cantex Mine Development Corp. (the “Issuer”), 203-1634 Harvey Avenue Kelowna, BC V1Y 6G2.
1.2 State the name of the market in which the transaction or other occurrence that triggered the requirement to file this report took place.
Private placement of Common Shares and Warrants issued from treasury.
Item 2 – Identity of the Eligible Institutional Investor
-
2.1 State the name and address of the eligible institutional investor.
Sprott Asset Management LP
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2600, P.O. Box 26 Toronto, ON M5J 2J1
(the “Eligible Institutional Investor”)
-
2.2 State the date of the transaction or other occurrence that triggered the requirement to file this report and briefly describe the transaction or other occurrence.
The requirement to file this report was triggered as of March 31, 2022 as a result of the increase in the Eligible Institutional Investor’s holdings of Common Shares of the Issuer to more than 10% of the total Common Shares of the Issuer. See Item 3.1.
-
2.3 State the name of any joint actors.
Common Shares and Warrants are held by Ninepoint 2021 Short Duration Flow-Through LP and Ninepoint 2022 Flow-Through LP, each of whom may be deemed to be acting jointly or in concert with the Eligible Institutional Investor.
-
2.4 State that the eligible institutional investor is eligible to file reports under Part 4 in respect of the reporting issuer.
The Eligible Institutional Investor is eligible to file reports under Part 4 of NI 62-103 in respect of the Issuer.
Item 3 – Interest in Securities of the Reporting Issuer
3.1 State the designation and the net increase or decrease in the number or principal amount of securities, and in the eligible institutional investor’s securityholding percentage in the class of securities, since the last report filed by the eligible institutional investor under Part 4 or the early warning requirements.
This is the initial report filed by the Eligible Institutional Investor under Part 4 of NI 62-103 in respect of the Issuer.
-
3.2 State the designation and number or principal amount of securities and the eligible institutional investor’s securityholding percentage in the class of securities at the end of the month for which the report is made.
As at March 31, 2022, the Eligible Institutional Investor on behalf of accounts fully managed by it, together with joint actors, exercise control or direction over 7,194,000 Common Shares and 6,194,000 Warrants. See Item 3.4. Based on the number of currently issued and outstanding Common Shares (as reported by the Issuer), the Eligible Institutional Investor exercise control or direction over approximately 15.47% of the issued and outstanding Common Shares, assuming the exercise of the Warrants.
Thanks, bandi10!
Sprott becoming engaged in Cantex seems very bullish to me, though I have to assume that they have fingers in many metal development pies all over the world. From this information, does anybody have an opinion of how this relates to our prospects? I get the impression that Sprott wouldn't finance us (albeit it is very small potatoes for them), if they didn't think we have the goods. I don't know enough to make any serious conclusions.