Centurion Minerals Ltd. Closes 2.5 Million Unit Private Placement
23.12.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Dec. 23, 2011) - Centurion Minerals Ltd. (TSX VENTURE: CTN) ("Centurion", the "Company") is pleased to announce that it has closed the first tranche of its previously announced (November 25, 2011) brokered private placement for total gross proceeds of $1.0 Million.The first tranche consisted of 2,500,000 Units priced at $0.40 for total gross proceeds of $1,000,000. Each Unit consists of one common share and one half warrant. Each whole warrant is exercisable for one common share at $0.55 for a period of eighteen months following the closing. The units are subject to a hold period which expires in April 2012.
The Company has paid Agent fees of $59,600 and issued 186,250 non-transferrable Agent's warrants. The warrants are exercisable into Units at $0.55 on the same terms as the placees.
Proceeds from this financing will be used for exploration and drilling programs on the Company's Banda Raya property located in Aceh Province, Northern Sumatra, Indonesia, and for general working capital purposes.
ABOUT CENTURION
Centurion Minerals Limited is a Canadian-based company focused on the procurement, exploration and development of gold and other precious metal projects in Northern Sumatra, Indonesia and Canada.
On Behalf of the Board,
David G. Tafel
President and CEO
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.
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.
Contact Information
Centurion Minerals Ltd.
David Tafel, President and CEO
604-484-2161
604-683-8544 (FAX)
info@centurionminerals.com
www.centurionminerals.com