Century Energy Ltd.
TSX VENTURE : CEY

Century Energy Ltd.

September 01, 2011 18:09 ET

Century Energy Ltd. Completes $300,000 Private Placement

CALGARY, ALBERTA--(Marketwire - Sept. 1, 2011) -

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Century Energy Ltd. (TSX VENTURE:CEY) (the "Company") is pleased to announce that it has completed a non-brokered private placement financing of 5,000,000 flow-through common shares ("Flow-Through Shares") at a subscription price of $0.06 per Flow-Though Share for aggregate proceeds of $300,000 (the "Private Placement").

As part of the Private Placement, The Company paid Canaccord Genuity Corp. a finder's fee of $27,000 in cash (representing 9% of the gross proceeds raised) and 450,000 finder's warrants (representing 9% of the number of Flow-Through Shares issued). Each finder's warrant is exercisable into one common share of the Company at an exercise price of $0.10 and has an expiry date of March 1, 2013.

All Flow-Through Shares and finder's warrants issued in connection with the private placement are subject to a four month hold period, in accordance with applicable securities laws. Proceeds from the private placement will be used to explore the potential of the Company's Vawn heavy oil prospect in Central Western Saskatchewan (the "Vawn Prospect"). More information concerning the Vawn Prospect can be found on the Company's web site at www.centuryenergyltd.com.

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.

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