Centurion Minerals has closed a second and final tranche of its previously announced non-brokered private placement and issued 1.52 million units priced at Can$0.05 for proceeds of $76,000. Proceeds from this financing shall be used to advance its Myanmar gold project strategy and for general corporate purposes.
The initial $250,000 financing was oversubscribed and the company raised total gross proceeds of $277,400. Each unit consists of one common share and one warrant.
Each warrant will be exercisable for one common share at $0.10 for a period of two years following the closing and will be subject to a four month hold period expiring in August 2015. Finders’ fees of $3200 have been paid.
Centurion Minerals is a Canadian-based company focused on the exploration and development of gold and other precious metal projects in South East Asia.