By Sheri Kasprzak
Atlanta, Jan. 19 - Century Mining Corp. said it will raise C$1,995,000 in a non-brokered private placement.
The company plans to sell 5.7 million units at C$0.35 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.40 each for two years.
The shares sold in the offering are subject to a four-month hold.
Based in Ferndale, Wash., Century is a gold mining, exploration and development company. It plans to use the proceeds from the offering to fund the purchase of mining equipment and for working capital on the Sigma Mine operation.
| Issuer: | Century Mining Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1,995,000
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| Units: | 5.7 million
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| Price: | C$0.35
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Jan. 18
|
| Stock price: | C$0.39 at close Jan. 18
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