Cantex Mine Development Corp V.CD

Just dropped on Sedar...

[pennymaker69]

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.
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.
TSX Venture Exchange.
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
(collectively, 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 February 28, 2023 as a result of the decrease
in the Eligible Institutional Investor’s holdings of Common Shares of the Issuer of more than 2.5%
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 2022 Flow-Through LP and Ninepoint
Resource Fund Class, 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.

 

 

As at February 28, 2023, there is a net decrease of 2,194,000 Common Shares. Together with the
increase in total issued and outstanding Common Shares of the Issuer, this has resulted in a net
decrease of approximately 3.42% in the Eligible Institutional Investor’s securityholding
percentage, assuming the exercise of the Warrants.
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 February 28, 2023, the Eligible Institutional Investor on behalf of accounts fully managed by
it, together with joint actors, exercise control or direction over 5,000,000 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 exercises control or
direction over approximately 12.06% of the issued and outstanding Common Shares, assuming the
exercise of the Warrants.

[limestone]

I'm assuming these are some of the shares acquired in last years non-brokered private placement, being sold. I didn't realize Sprott had such a large interest in CD.

[Stevesack]

Explains where all the anonymous selling came from during that period. It's like the TSX doesn't want to let the average retail investor know when large shareholders are dumping their stock. Not very transparent. 

[Massivesulfide]

Correct. They reduce their holdings to 5 million shares after selling off 2.194 million shares at around 45 cents after doing the PP at 30 cents. All the while they kept their warrants in tact at 6.194 million. In effect, they made a profit of 50% on their equity stake, and got to keep all those warrants. They had their proverbial cake and were able to eat it too. Chuck told me that they might be

[givemeabreak1]

Massive comic relief lol 20 billion.  The value of 20 billion is an economic determination.  Last I checked even if they do a resource calculation there is no economic determination.