Centurion Minerals Ltd: Closes Second Tranche of Private Placement
VANCOUVER, October 13, 2016 - Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", or the "Company") is pleased to announce that it has closed a second tranche of its previously announced non-brokered private placement and will issue 1,538,300 Units priced at $0.07 for total gross proceeds of $107,681. 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 $0.12 for the first year and at $0.15 for the second year following the closing. The shares will be subject to a 4-month hold period expiring in February 2017. The Company has now closed on approximately $245,000 of a $300,000 private placement announced on August 29, 2016 and intends to close a final tranche prior to October 27, 2016. Closing will be subject to TSX Venture Exchange approval.
Proceeds from this financing shall be used to advance the Ana Sofia agri-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 agri-mineral and precious mineral projects.
On Behalf of the Board,
"David G. Tafel"
President and CEO
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.
For Further Information Contact:
David Tafel
President and CEO
604-484-2161
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.
SOURCE: Centurion Minerals Ltd.