|Wed Jul 26, 2017|
Century Energy Enters Into Loan Agreement
|Vancouver, British Columbia -- Century Energy Ltd. (NEX: CEY.H) ("Century" or the "Company") announces that it has entered into a loan agreement with 1116459 B.C. Ltd. ("1116459 BC") dated effective July 17, 2017, whereby the Company has agreed to loan $150,000 to 1116459 BC. The maturity date of the loan is January 31, 2018 and interest will be payable annually in arrears at the rate of 10% per annum. The loan is secured against 1116459 B.C.'s interest in the Korn Kob property.|
The loan is made pursuant to a letter of intent dated June 30, 2017 with Marcel Anil Rada and 1116459 BC (see news release dated July 5, 2017) to acquire all of the issued and outstanding shares of 1116459 BC, a private British Columbia company that holds the right to acquire a 100% interest in the Korn Kob copper-gold property located in Pima, Arizona.
The Company proposes to complete the acquisition of the Korn Kob property concurrently with the
previously-announced acquisition of the Tassawini property. The transactions will constitute a reverse takeover of Century under the policies of the TSX Venture Exchange.
For more information, contact:
President and Director
Telephone: (604) 218-7400
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Century Energy Ltd. should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
You can view the Previous News item: Wed Jul 5, 2017, Century Energy Announces Letter Of Intent To Acquire Korn Kob Copper Property And Provices Update On Acquisition Of Guyana Project
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