Century Energy Ltd.
TSX VENTURE : CEY

December 18, 2009 17:42 ET

Century Energy Announces Completion of Private Placement

HOUSTON, TEXAS--(Marketwire - Dec. 18, 2009) -

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Century Energy Ltd. ("Century" or the "Company") (TSX VENTURE:CEY) is pleased to announce that it has completed the non-brokered private placement offering it announced on November 23, 2009, and has therefore issued 4,500,000 units ("Units"), pursuant to prospectus and registration exemptions, at a subscription price of $0.07 Canadian per Unit for aggregate gross proceeds of $315,000 Canadian. Each Unit consists of one (1) common share in the capital of Century and one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder thereof to purchase one common share for a price of $0.14 Canadian until December 18, 2010, subject to earlier termination in the event that the closing price (or closing bid price on days when there are no trades) of the common shares on the TSX Venture Exchange exceeds $0.14 for 20 consecutive trading days.

The Company also paid to those who assisted the Company in sourcing subscriptions for the offering, cash commissions and expenses of an aggregate of $31,800 and warrants entitling the holders thereof purchase an aggregate of 450,000 Units of the Company at a price of $0.10 per Unit on or before December 18, 2010.

About Century Energy Ltd.

Century Energy Ltd. is an oil and gas exploration company pursuing opportunities in Canada and the United States.

Neither 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.

Contact Information

  • Century Energy Ltd.
    Jimmy McCarroll
    President
    (713) 658-0161 or Toll Free (U.S. Only): (877) 243-4153