Vancouver, British Columbia–(Newsfile Corp. – July 24, 2017) – Centurion Minerals Ltd. (TSXV: CTN) (“Centurion”, or the “Company”) wishes to announce that it has closed a first tranche of its non-brokered private placement and issued 5,024,780 Units for gross proceeds of $251,239. Each Unit is priced at $0.05 and consists of one common share and one 2-year common share purchase warrant. Each warrant will be exercisable for one common share at $0.10 for the first year and at $0.15 for the second year following the closing. Finders fees of $1475 and 29,500 broker warrants (having the same terms as the subscribers) have been paid. The shares are subject to a four month hold period expiring in November 2017.
Proceeds from this financing shall be used by the Company as operating expenses for the Ana Sofia, Argentina agri-gypsum plant and for general corporate purposes.
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the exploration and development of agri-mineral fertilizers and other mineral projects.
On Behalf of the Board,
“David G. Tafel”
President and CEO
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 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. Such statements include, among others: possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; 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. It is important to note that the information provided in this news release is preliminary in nature. The Company’s Ana Sofia project has not been the subject of a feasibility study and as such there is no certainty that a potential mine will be realized or that the processing facility will be able to produce a commercially marketable product. There is a significant risk that any production from the project will not be profitable with these risks elevated by the absence of a compliant NI 43‑101 feasibility study. A mine production decision that is not based on a feasibility study demonstrating economic and technical viability does not provide adequate disclosure of the increased uncertainty and specific risks of failure associated with such a production decision. The work carried out to date is of a preliminary nature to assist in the determination as to whether the mineral product is suitable for sale and if there are markets for the mineral product. The Company has undertaken market research and studies to try to mitigate these risks. General risks inherent in the Project include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, share price volatility, estimated price volatility, changes in equity markets, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward‑looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward‑looking statements or information. We undertake no obligation to reissue or update any forward‑looking statements or information except as required by law.
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