Last checked at 2 Jul 2013 07:00
Centurion Resources Plc / Index: AIM / Epic: CEN / Sector: Natural Resources
2 July 2013
Centurion Resources Plc ('Centurion' or 'the Company')
Raises £200,000 to evaluate additional opportunities in Europe and termination of Montenegrin partnership
Centurion Resources Plc announces that it has raised £200,000 by way of a placing of 20 million new ordinary shares in the capital of the Company ('the Placing Shares'), with new shareholders at a price of 1 pence per Placing Share ('the Placing'), a 138% premium to the share price at close of business on 1 July 2013. The funds raised will be used to evaluate high quality opportunities across Europe in the base metals sector.
Furthermore Centurion advises that the previously announced purchase of a 10% interest in North Mining Doo, the 100%-owner of the Monty Zinc-Lead-Silver Project in Montenegro in Central Europe, from ASX-listed Balamara Resources Limited ("Balamara"), has been terminated for strategic reasons. Centurion and Balamara will not pursue this relationship further and have agreed to terminate the existing contract with immediate effect. Accordingly, Balamara will return £412,500 as per the original contract to Centurion in the coming days, adding to Centurion's cash reserves.
Centurion CEO Alastair Clayton said, "This Placing significantly adds to our cash reserves and shareholder base which is imperative as we move forward in implementing our overall strategy of evaluating and potentially acquiring projects and interests in the European natural resource sector."
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the Placing Shares will commence on 8 July 2013.
As a result of the issue of the Placing Shares the Company's issued share capital will be 249,976,697 Ordinary Shares.
The Placing Shares will, when issued, rank pari passu in all respects with the existing issued Ordinary Shares, including the right to receive any dividends and other distributions declared following Admission.
**ENDS**
For further information see http://www.centurionresources.com/ or contact the following:
Alastair Clayton | Centurion Resources Plc | + 44 (0) 20 3326 1729 |
Greg Kuenzel | Centurion Resources Plc | + 44 (0) 20 3326 1729 |
Roland Cornish | Beaumont Cornish Limited | +44 (0) 20 7628 3396 |
Lindsay Mair | Sanlam Securities UK | +44 (0) 20 7628 2200 |
Catherine Miles | Sanlam Securities UK | +44 (0) 20 7628 2200 |
Elisabeth Cowell | St Brides Media and Finance Ltd | +44 (0) 20 7236 1177 |
Charlotte Heap | St Brides Media and Finance Ltd | +44 (0) 20 7236 1177 |