Centurion announces non-brokered private placement
Tuesday, March 20 2012 - 02:39 AM WIB
Centurion Minerals Ltd said that it had arranged a non-brokered private placement of up to 2,500,000 units priced at $0.30 for total gross proceeds of up to $750,000.
The company said in a press statement on Tuesday that each unit would consist of one common share and one half warrant. Each whole warrant will be exercisable for one common share at $0.50 for a period of eighteen months following the closing and will be subject to a four month hold period.
Drilling on the Company's Banda Raya property located in Northern Sumatra, Indonesia is underway and proceeds from this financing will be used to finance this program and for general working capital purposes.
This offering is subject to the approval of the TSX Venture Exchange.
Editing by Benget Besalicto Tnb.