Centurion Gold Holdings Announces Signing of Acquisition Agreement with Omaruru Minerals and Termination of Attempt to Acquire Bosveld Mines.Business Editors BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--April 3, 2003 Centurion Gold Holdings, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGHI) announced it has signed an agreement with the shareholders of Omaruru Minerals (Proprietary) Limited ("Omaruru") through which Centurion will acquire 100 percent of the outstanding common stock of Omaruru in exchange for 6,900,000 restricted shares of Centurion common stock. Centurion also wishes to announce that it has terminated its discussions with and its attempt to acquire Bosveld Mines (Proprietary) Limited. Omaruru, which has offices in Pretoria, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , operates a gold mine located in the Sabi District of South Africa. Centurion is in the process of confirming the representations made by Omaruru. The companies anticipate the transaction will close upon the completion of this process and the delivery of the Omaruru and Centurion shares into escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. . The companies anticipate this process will be completed within 30 days. Upon the closing of the transaction, the current director and officers of Centurion will resign and nominees of Omaruru will be appointed. Centurion has been investigating opportunities in the gold mining industry and had begun due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. to acquire Bosveld Mines, but the parties have mutually agreed to terminate the acquisition discussions. About Centurion Gold Holdings, Inc. Centurion Gold Holdings, Inc. was founded in August 2001 as Golf Product Technologies, Inc. and attempted to become a golf equipment and accessories design and marketing company by licensing or acquiring products from third parties. The Company was unable to raise adequate funding to pursue this goal or to acquire, license or develop a product with the limited available funds. Accordingly, the Company has ceased all operations in the golf industry and has determined that it is imperative that it identify and acquire a new business opportunity. FORWARD LOOKING STATEMENTS: Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 and which involve risks and uncertainties. The company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public. For information regarding this release or Centurion Gold Holdings in general, contact Jim Dodrill at 561/862-0529. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion