KELOWNA, BC, Dec. 7, 2023 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") announces that, further to its news release of December 5, 2023 announcing a private placement (the "Offering"), the Company closed the first tranche of the Offering ("the Tranche") and has received $1,419,990 by the issuance of 4,666,633 flow through units (the "FT Units") and 76,923 non flow-through units (the "Units").  FT Units were issued at $0.30 per FT Unit and Units were issued at $0.26 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 $0.39 for a term of two years from closing.