Centurion Gold reduces conversion price on $750,000 in notes

By Sheri Kasprzak

New York, March 31 - Centurion Gold Holdings, Inc. said it has lowered the conversion price on $750,000 in principal of its outstanding $3 million in secured convertible term notes.

The conversion price will now be equal to 75% of the lowest five closing bid prices for the 22 trading days before conversion with a $0.05 floor. The original price was $0.30.

The remainder of the notes will remain convertible at $0.30 each.

The notes were purchased by Laurus Master Fund, Ltd. on Sept. 23, 2004.

Based in Johannesburg, South Africa, Centurion acquires ore-bearing properties.

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