Centurion Minerals Ltd. (TSX-V: CTN) has announces the oversubscription if its private placement financing which was previously announced on December 22, 2009. The company has increased their offering from 1 million units up to 1.2 million units at a price of $0.50 to result in gross proceeds of up to $600,000.
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Each unit contains 1 common share and 1 half warrant. A whole warrant enables its holder to purchase 1 common share for $0.60 for a period of 2 years from closing. The company plans to use its proceeds for general working capital purposes, due diligence and to advance exploration programs.
Centurion Minerals Ltd. is a Canada-based, exploration-stage company. The Company is engaged in the exploration of its mineral properties. The Company’s principal properties include Sable Property located in Aceh, Indonesia and the Copper Prince property located in Falconbridge Township, Sudbury, Ontario.
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