KELOWNA, BC, Nov. 18, 2022 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company") announces that, further to its news release of November 15, 2022 announcing a private placement (the "Offering"), the Company has closed the Offering and has received $1,605,040 by the issuance of 5,203,852 flow through units (the "FT Units") and 800,000 non flow-through units (the "Units").  FT Units were issued at $0.27 per FT Unit and Units were issued at $0.25 per Unit; each FT Unit is comprised of a flow through share and one-half of a non-flow through warrant and each Unit is comprised of one non-flow through share and one-half of a warrant.  Each whole warrant entitles the holder to acquire one common share of the Company at a price of $0.35 for a term of two years from closing.