Centamin Egypt Limited
TSX : CEE
AIM : CEY
ASX : CNT

Centamin Egypt Limited

July 02, 2009 16:04 ET

Centamin Egypt Limited: Private Placement for Gross Proceeds of C$29,640,000

TORONTO, ONTARIO--(Marketwire - July 2, 2009) -

THIS NEWS RELEASE IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(ASX:CNT)(AIM:CEY) is pleased to announce that it has attained subscriptions for a private placement of 19 million ordinary shares at an offering price of C$1.56 per ordinary share, raising gross proceeds of C$29.6 million (the "Offering"). The shares are to be placed with three large North American resource focused funds.

The Offering is subject to certain conditions, including but not limited to, regulatory approval and is expected to close on or around 16 July 2009.

Centamin intends to use the net proceeds of the Offering for continued exploration activities and for general corporate purposes.

Josef El-Raghy, Managing Director/CEO of Centamin commented, "We welcome the opportunity to further solidify our shareholder base with long term fundamental resources focused investors as a result of this Offering. We are pleased with the success of our first gold pour and remain committed to ramping up to full production towards the end of 2009."

Thomas Weisel Partners Canada Inc. acted as sole agent on the Offering.

For Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO

02 July 2009

ABN 86 007 700 352

Contact Information

  • Centamin Egypt Limited
    Josef El-Raghy
    + 61 (8) 9316 2640
    + 61 (8) 9316 2650 (FAX)
    centamin@centamin.com.au
    www.centamin.com
    or
    Buchanan Communications Limited
    Ben Willey
    + 44 (0) 207 7466 5000
    or
    Buchanan Communications Limited
    Bobby Morse
    + 44 (0) 207 7466 5000
    or
    Ambrian Partners Limited
    Richard Brown
    + 44 (0) 207 7634 4700
    or
    Ambrian Partners Limited
    Richard Greenfield
    + 44 (0) 207 7634 4700