|December 07, 2010|
Centurion Minerals Enters into Strategic Alliance with PT Titan Metals; Arranges $4 Million Private Placement
|Vancouver, B.C., December 07, 2010. Centurion Minerals Ltd. (CTN: TSX-V) ("Centurion", "the Company") is pleased to announce that it has entered into a strategic alliance with PT Titan Metals ("Titan"); a private Indonesian company engaged in the acquisition and development of mineral resource projects in Indonesia. The agreement provides Centurion with the first right of refusal to participate in any of the projects in which Titan is seeking a partner in exchange for Centurion's technical, legal, and financial expertise. In conjunction with this strategic partnership, Titan and associates will invest up to $2.2 million in Centurion by way of a private placement priced at $1.55 per share for up to 1.42 million shares.|
"This alliance enhances and solidifies our Indonesian relationships and will expose Centurion to additional significant mineral projects," stated Alfred Lenarciak, Chairman. "We look forward to collaborating with this very capable group."
In association with the Titan equity investment, Maison Placements Canada Inc. has arranged a brokered private placement of up to an additional $1.8 million priced at $1.55 for 1.2 million shares. Gross proceeds from the placements will total up to $4 million.
Total net proceeds from the subscribers 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. The offering is subject to the approval of the TSX Venture Exchange.
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 Indonesia.
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:
Toll Free (North America) 1-877-784-2161
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.
You can view the Next News Releases item: Mon Dec 20, 2010, Centurion Minerals Identifies Additional Target Areas on Banda Raya and Halimon Gold Projects
You can view the Previous News Releases item: Mon Nov 22, 2010, Centurion Minerals Appoints Mr. Thomas Mulja as Chief Operating Officer
You can return to the main News Releases page, or press the Back button on your browser.