Century Energy Ltd.
TSX VENTURE : CEY

November 23, 2009 13:19 ET

Century Energy Announces Non-Brokered Private Placement

HOUSTON, TEXAS--(Marketwire - Nov. 23, 2009) -

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Century Energy Ltd. (TSX VENTURE:CEY) ("Century" or the "Company") announced today it intends to proceed with a non-brokered private placement offering of up to 5,714,286 units ("Units") at a subscription price of $0.07 Canadian per Unit for gross proceeds of up to $400,000 Canadian. Each Unit will consist of one (1) common share in the capital of Century and one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one common share for a price of $0.14 Canadian for one year from the date of the first sale of securities under this offering, 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 private placement will be conducted in reliance upon certain prospectus and registration exemptions. The net proceeds from the placement will be used to augment Century's unallocated working capital.

The Corporation may pay, in accordance with all regulatory requirements, finder's fees to registered securities dealers or others for obtaining subscriptions for Units. The Units will be subject to a four month hold period. 

Completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

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) 1-877-243-4153