Other NR's yesterdayIt looks like the administrative details on these issues are now complete. It looks like the next major step is to get that long overdue drill rig built and delivered to Yemen. So much for making deliveries in a timely manner. Ramadan is fast approaching and it will be time for another month holiday for the workers.
Cantex receives approval for debt settlement, financing
2004-07-16 16:42 ET - News Release
Ms. Kathrine MacDonald reports
CANTEX ANNOUNCES FINAL EXCHANGE ACCEPTANCE TO DEBT SETTLEMENT
Further to Cantex Mine Development Corp.'s news release in Stockwatch of Dec. 22, 2003, it has received final exchange acceptance to: (i) settle $1,253,361 of debt by the issuance of 25,067,140 shares of its common stock at a deemed price per share of five cents; (ii) acquire certain mineral properties located in Nevada, United States, from Sovereign Gold Corp. in exchange for three million common shares at a deemed price of five cents per share and $125,000 (U.S.) in cash; and (iii) a private placement of 60 million common shares at a price of five cents per share for total proceeds of $3-million. The shares issued have a four-month hold period expiring Oct. 16, 2004. The funds raised will be used to drill the company's nickel and gold projects in Yemen and Nevada, and for working capital.
Cantex sells 60 million shares at a 'nick'
2004-07-16 16:35 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 22, 2003.
Shares: 60 million
Price: five cents per share
Placees: 106
Insiders: Charles Fipke one million; Chad Ulansky 200,000
Pro groups: Peter Chu 200,000; Kent Coulter 100,000; David Elliot 500,000; Pierre Gloutney 200,000; Deborah Goldbloom 60,000; Peter Grosskopf 500,000; Nancy Lee Girling 200,000; Haywood Securities Inc. 125,000; John O'Sullivan 600,000; Keith Peck 500,000; Mathew Quinlan 1.3 million; Lance Risby 150,000; Salman Partners Inc. 500,000; David Shepherd 1.04 million; Randal Van Eijnsbergen 100,000; John Watts 400,000; Mark Wisniewski 600,000
Finders' fees: 851,830 common shares payable to MBR International Finance Corp.; 566,020 common shares payable to 906608 Alberta Inc.; 35,000 common shares payable to Canaccord Capital Corp.
Cantex Mine acquiring Nevada ground
2004-07-16 16:29 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length acquisition of certain mineral properties located in Nevada from Sovereign Gold Corp., in exchange for three million common shares at a deemed price of five cents per share and $125,000 (U.S.) cash.