Why the increase in stock price?????????????????????Could this be the reason.......................... Cantex Mine arranges $700,000 private placement Mr. Charles Fipke reports CANTEX ANNOUNCES PRIVATE PLACEMENT Cantex Mine Development Corp. intends to proceed with a private placement of its securities so as to raise up to $700,000. The offering will comprise a combination of flow-through (FT) shares at five cents per FT share and non-flow-through (NFT) units at a price of five cents per unit. Each unit will consist of one non-flow-through common share and one common share purchase warrant in the capital of the company. Each warrant is exercisable into one share for a period of 24 months from closing at a price of 10 cents per share. Proceeds of the offering will be used on the company's North Rackla project in the Yukon. A two-phase program is planned for this summer. The first phase involves prospecting, sampling and geologic mapping of four anomalous areas discovered by Cantex. The second phase, expected to occur later in the summer, involves testing two of the areas by core drilling. The offering remains subject to the acceptance of the TSX Venture Exchange.