|October 25, 2016|
Centurion Closes $540,878 Oversubscribed Private Placement
|Vancouver, B.C., October 25, 2016. Centurion Minerals Ltd. (CTN: TSX-V) ("Centurion", "the Company") is pleased to announce that it has closed a third and final tranche of a non-brokered private placement and issued 4,233,429 Units priced at $0.07 for proceeds of $296,340. The previously announced $300,000.00 financing was oversubscribed and the Company raised total proceeds of $540,878. Each Unit consists of one common share and one warrant. Each warrant will be exercisable for one common share at $0.12 during the first year or $0.15 during the second year, following the closing. The shares are subject to a four month hold period expiring in February 2017. Finders' fees of $5,000 are to be paid pursuant to the closing.|
Proceeds from this financing shall be used to advance the Ana Sofia agri-gypsum project and for general corporate purposes.
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:
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.
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