Jimmy McCarroll

December 01, 2014 16:01 ET

Jimmy McCarroll Announces Early Warning Report Filing Regarding Shareholdings of Century Energy Ltd.

CALGARY, ALBERTA--(Marketwired - Dec. 1, 2014) -

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As required by applicable securities laws, Mr. Jimmy McCarroll, Chairman and Director of Century Energy Ltd. ("Century" or the "Corporation") announces that in connection with the previously announced private placement (the "Private Placement") detailed in the news release of Century dated December 1, 2014, he acquired (the "Acquisition") 312,500 units of the Corporation ("Units"), each Unit being comprised of one (1) common share in the capital of the Corporation ("Common Share") and one (1) share purchase warrant of the Corporation ("Warrant").

Following the Acquisition, Mr. McCarroll now beneficially owns an aggregate of 513,652 Common Shares, representing 6.5% of the Corporation's outstanding Common Shares. Mr. McCarroll also holds 312,500 Warrants which are convertible into 312,500 Common Shares upon due exercise thereof. Additionally, Mr. McCarroll holds 88,100 incentive stock options of Century ("Options"), which are convertible into 88,100 Common Shares upon due exercise thereof. If these Warrants and Options were duly exercised by Mr. McCarroll, he would beneficially own 914,252 Common Shares, representing 11.05% of the Corporation's outstanding Common Shares.

Mr. McCarroll acquired the Units pursuant to the Private Placement, and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over Common Shares, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

All Common Shares, Warrants and Options acquired and/or held by Mr. McCarroll were acquired for investment purposes.

About Century Energy Ltd.

Century is a company listed on NEX seeking acquisition opportunities in the oil and gas industry in North America.

Advisories

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.

This news release may contain certain forward-looking information and statements, including statements regarding, future plans and objectives of Mr. McCarroll and other statements which are not historical facts. Forward-looking statements address future events and conditions; and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur; or if any of them do, what benefits may be realized by the Corporation. All subsequent forward-looking statements, whether written or oral, attributable to the Corporation or to persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release, and the Corporation does not undertake any obligation to update publicly or revise any of the included forward-looking information or statements contained herein, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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