Century shareholder Scion acquires 9.7 million shares
Century Mining Corp (C:CMM)
Shares Issued 87,237,353
Last Close 4/18/2006 $1.52
Wednesday April 19 2006 - News Release
Mr. Steven Druskin reports
SCION REPORTS ACQUISITION OF SHARES IN CENTURY MINING CORPORATION
Century Mining Corp. shareholder Scion Qualified Value Fund acquired 9,753,000 common shares and 4,876,500 common share purchase warrants of the company on April 13, 2006. As a result of the purchase, Scion Qualified Value's holdings of Century Mining represent approximately 13.55 per cent of the issued and outstanding common shares of the company, assuming the exercise of its warrants. Scion Capital, LLC, is the managing member and investment adviser to Scion Qualified Value. Three other investment funds managed by Scion Capital acquired in total, an additional 5,247,000 common shares and 2,623,500 common share purchase warrants of Century Mining.
The shares and warrants were acquired from Century Mining as part of a private placement transaction. Scion Capital anticipates that upon the placement of the remaining shares offered by Century Mining in the private placement, Scion Capital's ownership percentage of Century Mining will be less than what is disclosed above.
The shares and warrants were acquired for investment purposes only and not with the purpose of exercising control over Century Mining. Scion Capital, on behalf of the funds it manages, may acquire additional shares and/or warrants or dispose of some or all of the shares or warrants currently held.
© 2006 Canjex Publishing Ltd.
tanoose....................and so it begins?? |
