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Centurion Updates Private Placement Status August, 2023
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2023) - Centurion Minerals Ltd. (TSXV:...
About this update from Centurion Minerals Ltd.
[{"type":"text","content":"Centurion Updates Private Placement Status August, 2023Vancouver, British Columbia--(Newsfile Corp. - August 11, 2023) - Centurion Minerals Ltd. (TSXV: CTN) (\"Centurion\", or the \"Company\") wishes to report that its private placement financing is being extended by up to 30 days.As previously announced, the Company is arranging a non-brokered private placement financing for up to $750,000 priced at $0.02. Up to $600,000 will consist of a Unit offering comprising one common share and one-half share purchase warrant. Each full warrant shall have a term of 24 months commencing on the Closing Date and shall entitle the holder to purchase one common share at a price of $0.05 during the first year and $0.10 during the second year. Up to $150,000 will consist of a Flow-through share only. A minimum of 25% of the proceeds from the financing shall be used for property payments and furthering exploration activities on the Project, up to 15% for non-arm's length payments and 10% for corporate communications. The balance shall be used for working capital and general corporate activities. Centurion has received commitments for approximately 50% of the total financing to date. Closing will be subject to TSX-V approval, and any shares issued will be subject to a four-month hold period. Casa Berardi West Gold Project: Centurion executed a previously announced Option Agreement to acquire a 100% interest in the Casa Berardi West Gold Project (the \"Project\"). The Project consists of 3 claim groups comprising a total of 4,700 hectares, strategically located northeast of Cochrane, Ontario, Canada in the mineral endowed central north Abitibi greenstone belt. Highlights:Historical exploration includes more than 70 RC drill holes returning encouraging results that include 18 samples greater than 1,000 ppb (1 g/t) gold and the highest returning 38,000 ppb (38g/t) gold;Situated along structural corridors hosting world-class discoveries, operating mines, and significant past-producing operations; Located near historical production from Normetal Mines as well as currently active, Amex Exploration Inc. which is undertaking one of the largest drilling programs in Canada on its Perron project. (Amex Exploration Highlights Accomplishments From 2022 And Reviews Exploration Plans for 2023);Excellent access and infrastructure.An NI 43-101 Technical Repor...