Centurion Gold Holdings Secures a $25M Equity Line; Funds Will Be Used to Advance Acquisition of Mining Assets Strategy.JOHANNESBURG, 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. -- Centurion Gold Holdings, Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CGHI.OB), announced today the company has secured a $25.0 million equity commitment from Dutchess Private Equities Fund, II, LP, of Boston, MA. Under the agreement, Dutchess Private Equities Fund has committed to purchase up to $25 million in shares over a 36-month period. Ted Smith, executive vice president of corporate finance of Dutchess, said, "We are pleased to work with Centurion Gold in funding its growth and fully executing on their business plan. We look forward to working with management." CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dale Paul of Centurion Gold Holdings said, "We are excited to enter into an equity line agreement with Dutchess Private Equities Fund. The funds will be used to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. our acquisitions of mining assets in line with our growth through acquisition strategy." "With this equity line," Paul added, "Centurion Gold Holdings has in place an inexpensive funding mechanism and ready cash to take advantage of the tremendous acquisition opportunities available in South Africa, resulting from the "use it or lose it" mining legislation enacted last May. We need an equity line available to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities quickly and the Dutchess funding provides us with just that." About Centurion Gold Holdings, Inc.: Centurion Gold Holdings, located in Johannesburg, South Africa, started three years ago to identify and acquire promising ore-bearing properties. In addition to its current holdings of four properties: the Primrose primrose, common name for the genus Primula of the Primulaceae, a family of low perennial herbs with species found on all continents, most frequently in north temperate regions. Gold Mine; the Omaruru Gold Mine; the Sallies Mine and a chrome (jargon) chrome - (From automotive slang via wargaming) Showy features added to attract users but contributing little or nothing to the power of a system. "The 3D icons in Motif are just chrome, but they certainly are *pretty* chrome!" bearing operation, the company is positioning itself to become a major producer in this market by acquiring additional mineral bearing properties and mineral rights. About Dutchess Private Equities Fund, LP Dutchess Private Equities Fund, LP is engaged in assisting growth companies in all facets of their long-term strategy by providing capital and progressive business solutions. Dutchess Private Equities Fund LP, manages a portfolio of private investments in public equities. Founded in 1996, Dutchess has been involved in excess of $200 million in financings for such companies. 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. 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. Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public. |
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