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| |   Tue Feb 23, 2010
Century Energy Announces Shares for Debt Transactions
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| | Century Energy Announces Shares for Debt Transactions
February 23, 2010 For Immediate Release
TSX Venture: CEY
Century Energy Ltd. ("Century" or the "Company") announces that it has received conditional acceptance from the TSX Venture Exchange ("TSXV") to complete the issuance of up to 2,266,667 Common Shares in the capital of Century, at a deemed price of $0.075 per share, in satisfaction of amounts owed by Century pursuant to tax indemnities provided to subscribers in connection with flow-through private placements completed in 2006 and 2007.
The Company will issue the shares upon execution of settlement agreements with the subscribers. To date, the Company has issued an aggregate of 743,016 Common Shares pursuant to such settlement agreements. There is no guarantee that additional settlement agreements will be entered into, nor that additional shares will be issued therefore.
The Company also announces that it has received conditional acceptance from the TSXV to complete the issuance of 233,333 Common Shares, at a deemed price of $0.075 per share, to Jimmy McCarroll, President of the Company, in satisfaction of unpaid management fees owed by Century to Mr. McCarroll.
About Century Energy Ltd.
Century Energy Ltd. is an oil and gas exploration company pursuing opportunities in Canada and the United States.
FOR FURTHER INFORMATION:
Jimmy McCarroll
President, Century Energy Ltd.
Telephone: (713) 658-0161
Toll Free (U.S. Only): (877) 243-4153 |
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