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File: Cantex - New Release - closing of private placement (July 2018).docx


Cantex Mine Development Corp.
203 - 1634 Harvey Ave.
Kelowna, BC   V1Y 6G2
250.860.8582
www.cantex.ca

CANTEX CLOSES PRIVATE PLACEMENT

Kelowna, BC - July 16, 2018 - Further to earlier news releases Cantex Mine Development Corp. (CD: TSXV) (the "Company"
--->) is pleased to announce the closing of its fully subscribed unit private placement (the "Placement")  resulting in gr
--->oss proceeds of $1,750,000.  The Placement consisted of the issuance of 6,086,668 flow through units and 5,579,999 non
---> flow through units.  Both sets of units were sold at a price of $0.15 per unit and were comprised of one share and on
--->e warrant, exercisable at $0.20 for a term of three years.

All securities issued in the Placement are subject to a hold period expiring November 14, 2018. Finders' fees of $4,20
--->0 were paid in connection with the Placement.

Proceeds from the Placement will be applied to drilling the Northern Gold area of the North Racla project in the Yukon
---> as well as the massive sulphide zone of the North Racla claims.



Signed,

Charles Fipke

Charles Fipke
Chairman

For further information:  Cantex Mine Development Corp,  Tel: +250-860-8582; Email: info@cantex.ca




Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.