Cantex Mine appoints new management, grants options

2009-02-02 16:53 ET - News Release

Mr. Chad Ulansky reports

CANTEX PROVIDES CORPORATE UPDATE

Cantex Mine Development Corp.'s board of directors has appointed

• Charles Fipke as chairman of the board,
• Chad Ulansky as president and chief executive officer,
• Keiven Bauer as chief operating officer, and
• Chris Sammartino as chief financial officer and secretary.

The board of directors also approved a total of 7.8 million options to be granted to directors and officers.

Each of these options allows the holder to purchase one common share in the company at a price of 10 cents, valid until Jan. 28, 2019.

As a condition of these new grants, a total of six million options, with an exercise price of 10 cents, currently outstanding to certain directors and officers, are to be cancelled.

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