Deal funds Bedard Dyke diamond drill program and exploration drilling
By Devika Patel
Knoxville, Tenn., Dec. 1 - Century Mining Corp. said it has completed a private placement of units. The company raised C$2.5 million in the placement.
The company sold 5,555,555 units at C$0.45 apiece. Each unit consists of one common share and one half-share warrant.
Each whole 18-month warrant will be exercisable at C$0.60, a 55.84% premium to the Nov. 30 closing share price of C$0.385.
Proceeds will be used for the diamond drill program at the Bedard Dyke zone and exploration drilling of other priority targets at or in the vicinity of the Lamaque mine.
Century is a gold mining company based in Blaine, Wash.
| Issuer: | Century Mining Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 5,555,555
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
| Settlement date: | Dec. 1
|
| Stock symbol: | TSX Venture: CMM
|
| Stock price: | C$0.385 at close Nov. 30
|
| Market capitalization: | C$158.82 million
|
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