|June 08, 2010|
Centurion Closes $6.2 Million Private Placement Financing
|Vancouver, B.C., June 8, 2010. Centurion Minerals Ltd. (CTN: TSX-V) ("Centurion", "the Company") is pleased to announce that it has closed two previously announced brokered private placements led by Maison Placements Canada Inc. ("Maison").|
The first placement consisted of 5,000,000 Units priced at $1.00 for total gross proceeds of $5,000,000. Each Unit consists of one common share and one half warrant. Each whole warrant will be exercisable for one common share at $1.30 for a period of eighteen months following the closing.
A second placement consisted of 1,000,000 Units priced at $1.20 for total gross proceeds of $1,200,000. Each Unit consists of one common share and one half warrant. Each whole warrant will be exercisable for one common share at $1.50 for a period of eighteen months following the closing. All units are subject to hold periods which expire in October 2010.
The Company has paid Maison as Agent in the financings, fees of $496,000 and 600,000 Agent's warrants. 500,000 Agent's warrants are exercisable into Units at $1.30 and 100,000 Agent's warrants are exercisable into Units at $1.50 on the same terms as those issued pursuant to the private placements.
Proceeds from these two financings will be used for exploration and drilling programs on the Company's properties, due diligence of further potential projects, and for general working capital purposes.
Maison Placements Canada Inc., (est. 1955) is a leading independent Canadian research-based, institutional investment dealer and is a participating organization of the Toronto Stock Exchange. The firm has a reputation for quality research, a well-established investment banking business, and an extensive network of global institutional contacts.
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
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:
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.
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