|December 05, 2017|
Centurion Reports Delay in Filing Year-End Financials
|Vancouver, B.C., December 5, 2017 --Centurion Minerals Ltd. ("Centurion" or the "Company") (TSX V: CTN) wishes to announce that it has not been able to file the Company's annual audited financial statements and accompanying MD&A for the year ended July 31, 2017 (the "Required Filings") by the filing deadline of November 28, 2017 and, as such, is in default under applicable securities legislation.
The delay in the timely completion of the audit has been primarily due to unforeseen coordination and procedural difficulties involving the auditor's review of the Company's Argentinian joint venture records. As the Argentinian audit is now well underway, Centurion expects to be in a position to complete and file the Required Filings within 30 days.
Unfortunately, the Company was only notified of the audit issues immediately prior to the filing deadline, which did not allow sufficient time for the preparation and filing of an application for a management cease trade order.
Upon review of applicable securities legislation and after conferring with the British Columbia Securities Commission (the BCSC), regarding the default, the BCSC can impose a cease trade order that all trading in securities of the Company cease for such period of time as the Principal Regulator may deem appropriate.
The Company also advises that it has postponed its Annual General Meeting, which was scheduled to be held on January 12, 2018 (the "Postponed Meeting"). Shareholders are advised to disregard any mailed documents they may receive in connection with the Postponed Meeting.
ON BEHALF OF THE BOARD OF DIRECTORS
"David G. Tafel"
For Further Information Contact:
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 contains forward looking statements and information (collectively, "forward-looking statements"), within the meaning of applicable securities laws, concerning future operations of Centurion, the current Board and management's plans, next steps, and vision for the Company. Although Centurion believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements and all forward-looking statements concerning the Company's future plans and operations, including management's assessment of the Company's expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Forward-looking statements are based on the beliefs, assumptions, opinions and expectations of Centurion's management at the time they are made. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties. Readers 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. Such statements include, among others: delays and other risks related to construction activities and operations; timing and receipt of regulatory approvals of operations; the ability of the Company and other relevant parties to satisfy regulatory requirements; the availability of financing for proposed transactions, programs and working capital requirements on reasonable terms; the ability of third‑party service providers to deliver services on reasonable terms and in a timely manner; market conditions and general business, economic, competitive, political and social conditions Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained herein are expressly qualified by this cautionary statement and are made as of the date of this News Release. Centurion does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions , opinions or expectations, or other circumstances change, except as required by law.
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