Bullboard - Stock Discussion Forum Cantex Mine Development Corp V.CD

Alternate Symbol(s): CTXDF

Metals & Mining Industrial Metals & Minerals

Cantex Mine Development Corp. is a Canada-based exploration stage company. The Company's principal business activity is the acquisition and exploration of mineral properties for commercial mineral deposits. The Company’s primary project is located approximately 100 kilometers northeast of Mayo, Yukon Territory, Canada. The Company has approximately 1,075 claims covering over 21,500 hectares in... see more

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Cantex Mine Development Corp > Private Placement News

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Post by Oregonduck on Jun 29, 2024 3:27pm

Private Placement News

Getting funding is difficult for Cantex. It is like pulling teeth. Chuck has lost a lot of his drawing power. In August 2023, the Co. had originally planned to raise $5 million with Crescat putting up $1.5 million. They managed to raise only $3 million with Crescat ended up chipping in $1.0 million. Chuck didn't subscribe for any shares during the first round. In tho second round of private placement, Chuck says he will take down $1 million and Crescat $100,000. There is now a further small upsize in the latest news release.

North Rackla is a bottomless pit. Chuck confirms in the latest Management Report that North Rackla has not been proven to hold any economic orebody.

BTW, CEO Chad Ulansky's consulting Co. was paid $430,000 for the 9 months ended April 30, 2024. Chad earns more than Canada's PM and BC premier. A good gig for a penny stock CEO with an all-time low stock price.

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Comment by Waivergod on Jun 29, 2024 5:23pm

Who do you think went in on upside PP and why santa?

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Comment by Oregonduck on Jun 30, 2024 6:20pm

I think Crescat will be averaging down from $0.26 to $0.12 and picking up $400k in extra shares to round up their commitment. They were to buy a total of $1.5 million of PP shares in August 2023. Dilution is a bane for shareholders.

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