TORONTO, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Northfield Capital Corporation (the “Acquirer”) announces that it has acquired ownership and control of 100,000 common shares (the “Subject Shares”) of Cantex Mine Development Corp. (the “Company”), 203 – 1634 Harvey Ave., Kelowna, BC, V1Y 6G2 on October 29, 2018, representing approximately 0.4% of all issued and outstanding common shares of the Company as of such date immediately following such transaction.
Immediately before the transaction described above, the Acquirer held an aggregate of 1,443,050 common shares of the Company and convertible securities entitling the Acquirer to acquire an additional 1,071,425 common shares of the Company (the “Warrants”), representing approximately 5.8% of the issued and outstanding common shares of the Company (or approximately 9.8% assuming exercise of the Warrants only). Upon completion of the transaction described above, the Acquirer owns and controls an aggregate of 1,543,050 common shares of the Company (the “Owned Shares”) and the 1,071,425 Warrants, representing approximately 6.2% of the issued and outstanding common shares of the Company as of October 29, 2018 immediately following the transaction described above (or approximately 10.1% assuming exercise of the Warrants only).
The Subject Shares were acquired in a private placement and not through the facilities of any stock exchange. The holdings of securities of the Company by the Acquirer and its joint actor are managed for investment purposes, and the Acquirer and its joint actor could increase or decrease their investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The aggregate consideration payable for the Subject Shares was $70,000.00, calculated as an aggregate of 100,000 Subject Shares acquired at a purchase price of $0.70 per share.
The trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that the Acquirer is an “accredited investor” as defined herein.
A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting:
141 Adelaide Street West
Toronto, Ontario M5H 3L5