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Centurion Completes $1.7 Million Private Placement; Announces Additional Financing for up to $300,000
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2019) - Centurion Minerals Ltd. ( ...
About this update from Centurion Minerals Ltd.
[{"type":"text","content":"Centurion Completes $1.7 Million Private Placement; Announces Additional Financing for up to $300,000Vancouver, British Columbia--(Newsfile Corp. - September 9, 2019) - Centurion Minerals Ltd. (TSXV: CTN) (\"Centurion\", or the \"Company\") wishes to announce that it has received TSX Venture Exchange approval to close its previously announced private placement (in 2 tranches) and received gross proceeds totaling $1,703,630. The Company has issued 17,036,300 common share units, priced at $0.10/Unit, and consisting of one common share and one common share purchase warrant exercisable for 2 years and priced at $0.15. The warrants are subject to an acceleration clause such that if the volume weighted average price of the Common Shares is greater than $0.30 per share for a period of 20 consecutive trading days at any time during the period of time commencing after Closing until the expiry of the Warrants, the Company may at its option elect to accelerate the expiry date of the Warrants. In such case, the Warrants will expire on the 20th day after the date on which notice of such acceleration is given by the Company. Finders fees consisting of $18,440 and 184,400 broker warrants have been paid and the shares are subject to a four month hold period expiring in December 2019. The broker warrants have the same terms as the private placement participants.2nd Private PlacementCenturion has received expressions of interest in a 2nd non-brokered private placement for up to $300,000 on the same terms as the financing that has closed recently and priced at $0.10/Unit. The private placement will be subject to TSX Venture exchange approval.Proceeds are allocated to general working capital as well as due diligence related to South American cannabis opportunities, focused on Uruguay, Argentina, Paraguay and Peru.ABOUT CENTURION Centurion Minerals Ltd. is a Canadian-based company with a focus on South American asset development. The Company's lead investment is its interest in the Ana Sofia Agri-Gypsum Fertilizer Project. In addition, the Company is actively pursuing business opportunities in the South American cannabis and related products industry. \"David G. Tafel\"President and CEOFor Further Information Contact:David Tafel604-484-2161Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies ...