Centurion Private Placement Update
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2016) - Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") wishes to provide an update regarding its previously announced $500,000 private placement financing. The Company intends to complete a "2nd tranche" non-brokered private placement of $230,000 priced at $0.10/Unit by or around March 31, 2016. On February 29th 2016, the Company announced completion of its "first tranche" private placement and issued 2,700,000 Units priced at $0.10 for total gross proceeds of $270,000. Each Unit consists of one common share and one 2 year common share purchase warrant. Each warrant will be exercisable for one common share at $0.15 for the first year and at $0.20 for the second year following the closing. Closing of the "2nd tranche" will be subject to TSX Venture Exchange approval.
Proceeds from this financing shall be used to commence a drilling and exploration program on its Argentinean agricultural gypsum project and for general corporate purposes.
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the exploration and development of gold and agri-mineral projects.
On Behalf of the Board,
"David G. Tafel"
President and CEO
For Further Information:
David Tafel
Director
604-683-1991
Neither the 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.
This news release may contain forward looking statements concerning future operations of Centurion Minerals Ltd. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.