Centurion Minerals Ltd. Closes Over-subscribed Private Placement
Vancouver, February 24, 2017 - Centurion Minerals Ltd. (TSXV: CTN) ("Centurion", "the Company") is pleased to announce that it has closed a second tranche of a non-brokered private placement and issued 3,692,143 Units priced at $0.07 for proceeds of $258,450. The Company previously announced a first tranche closing of $321,000 and subsequently increased the total funds to be raised from $350,000 to $579,000. Each Unit consists of one common share and one warrant. Each warrant will be exercisable for one common share at $0.12 during the first year or $0.15 during the second year, following the closing. Finders fees of $8,347 and 113,250 broker warrants (having the same terms as the subscribers) have been paid. The shares are subject to a four month hold period expiring in June, 2017. Proceeds from this financing shall be used to advance the Ana Sofia, Argentina agri-gypsum plant and for general corporate purposes.
ABOUT CENTURION
Centurion Minerals Ltd. is a Canadian-based company with an international focus on the exploration and development of gold and agri-mineral projects.
On Behalf of the Board,
"David G. Tafel"
President and CEO
For Further Information:
David Tafel
Director
604-683-1991
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 thirdparty 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.
