Press Release Source: Century Mining Corporation
Century Mining Welcomes Scion Capital as a Shareholder
Wednesday April 19, 3:30 pm ET
BLAINE, WASHINGTON --(CCNMatthews - April 19, 2006) - Century Mining Corporation (TSX VENTURE:CMM - News) is pleased to announce that Scion Capital, LLC, through a group of its funds, has acquired 15,000,000 common shares and 7,500,000 common share purchase warrants of the Company as part of the previously announced private placement.
This represents approximately 13.55% of the Company's currently issued and outstanding common shares. The Company expects to close the last tranche of the previously announced C$25 million financing early next week.
Margaret Kent, President & CEO, said: "We welcome Scion Capital as a shareholder of the Company and look forward to working with Scion as we build the Company. Our management team has developed a track record of acquiring mining assets through restructurings at prices significantly below market comparables.
In the case of the Sigma-Lamaque and San Juan acquisitions, both projects have significant exploration potential.
We will continue to grow Century through acquisitions of similar type deals. Scion Capital understands and supports our strategy for growing the Company."
Margaret M. Kent, Chairman, President & CEO
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Contact:
Tom Thomsen
Century Mining Corporation
Investor Relations Consultant
1-877-284-6535 or (360) 332-4653
tthomsen@centurymining.com
Graham Eacott
Century Mining Corporation
Vice President, Investor Relations
1-877-284-6535 or (360) 332-4653
(360) 332-4652 (FAX)
geacott@centurymining.com
www.centurymining.com
Source: Century Mining Cor
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