Centurion Minerals Closes Private Placement
October 26, 2009 4:38 PM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) - Centurion Minerals Ltd. (TSX VENTURE:CTN) ("Centurion" or "the Company") is pleased to announce that it has closed on its previously announced (see news release dated October 2, 2009) non-brokered private placement of 1,400,000 Units priced at $0.25 for gross proceeds of $350,000. Each Unit consists of one common share and one half share purchase warrant. Each whole warrant will be exercisable for one common share at $0.33 for a period of two years from closing. The common shares issued in connection with this private placement are subject to a four month hold period pursuant to applicable securities regulations, expiring in February 2010.
Proceeds from this financing will be used for general working capital purposes, due diligence of potential projects and to advance exploration programs on the Company's current properties.
ABOUT CENTURION MINERALS LTD.
Centurion is a Canadian based company focused on the procurement, exploration and development of gold and other precious metal properties. The Company has recently executed a Memorandum of Agreement to acquire a 77% interest in a private company which holds a Contract of Work on the Sable gold project in Aceh Province, Northern Sumatra, Indonesia and also has an option to acquire up to a 60% interest in the Copper Prince gold-copper property in Sudbury, 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.
