Century Energy Ltd.
TSX VENTURE : CEY

October 13, 2010 17:14 ET

Century Energy Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 13, 2010) -

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

Century Energy Ltd. (TSX VENTURE:CEY) announces that the Company is offering a non-brokered private placement for gross proceeds of up to $500,000 (the "Offering"). The Offering will consist of up to 10,000,000 units at $0.05 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to buy one common share for a period of 18 months from the date of the closing of the Offering at an exercise price of $0.10 per common share.

The Offering will be conducted in reliance upon certain prospectus and registration exemptions and all securities to be issued will be subject to a four month hold period. The net proceeds from the placement will be used for general corporate purposes.

The Company will pay a finder's fee of 10% cash plus 10% agent's warrants. Each agent's warrant will be exercisable at $0.10 per common share and will expire 18 months from date of the closing of the private placement.

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

Century Energy Ltd., www.centuryenergyltd.com, 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. In addition, this release is not for distribution to U.S. Newswire Services or for dissemination in the United States.

Contact Information