Century Announces Repayment of Deutsche Bank Convertible Short-Term Loan (ccnm)
VAL D'OR, QUÉBEC--(Marketwire - Sept. 27, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that it has repaid the US$3.25 million short-term loan extended by Deutsche Bank AG, London Branch ("DB") to the Company earlier this year, inclusive of principal and interest. This loan was convertible into Century common shares at the option of DB if it had not been repaid by the Company. The funds used for the repayment were obtained from a drawdown of the Performance Reserve Account, as permitted by the Second Amended and Restated Forward Gold Purchase Agreement signed by Century and DB effective September 9, 2011.
About Century Mining Corporation
Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Daniel J. Major, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Richard B. Meschke
Century Mining Corporation
(360) 332-4653 or Toll Free: (877) 284-6535
(360) 332-4652 (FAX)
www.centurymining.com
OR
Joanna Longo
Terre Partners
President
(416) 238-1414 (ext 233)
