Centurion Announces Private Placement

On October 22, 2025, Centurion Minerals announced a non-brokered private placement to raise gross proceeds of $250,000. The company will issue units at a price of $0.05 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.08 for a period of 36 months. The proceeds are intended for exploration activities on its Casa Berardi West Gold Project and for working capital. This announcement was made on the same day the company's previously announced 1-for-4 share consolidation became effective.

This news is materially negative for Centurion and its existing shareholders. While raising capital is necessary for a junior explorer with negligible cash, the terms of this financing are exceptionally poor and signal severe financial distress.

• Massive Discount and Dilution: The financing is priced at $0.05 per unit. The company's last closing price before the consolidation was $0.06 on October 21. The 1-for-4 consolidation should have resulted in a theoretical share price of $0.24. This financing at $0.05 represents a staggering 79% discount to that price. It is also priced below the consolidation-adjusted 52-week low of $0.08. This will cause an immediate and severe re-pricing of the stock downwards, effectively wiping out a significant portion of the remaining shareholder value.

• Contradiction of Stated Goals: On October 9, 2025, management stated the rationale for the share consolidation was to "give company more flexibility to secure less dilutive financing." Announcing this deeply discounted placement on the day the consolidation took effect completely contradicts that statement and severely damages management's credibility. The financing is the definition of highly dilutive.

• Insufficient Capital: The company's financial statements from April 30, 2025, showed only $523 in cash and a working capital deficit of over $1.16 million. Raising a mere $250,000 is a stop-gap measure that is insufficient to cover existing liabilities, let alone fund a meaningful exploration program. This capital will be consumed quickly by general and administrative costs, and another financing will be required in the very near future, likely on similarly poor terms.

• Warrant Overhang: The financing adds 5 million new warrants with a low exercise price of $0.08. This will create a significant overhang, capping any potential share price appreciation near that level for the next three years.

In summary, this is a classic example of death-spiral financing. The company was forced to consolidate its shares only to raise a small amount of money at a price that destroys shareholder value. It is a clear indication of the company's inability to attract capital on reasonable terms.

Centurion Minerals Ltd. is a junior exploration company focused on acquiring and exploring mineral properties. Its primary asset is the Casa Berardi West Gold Project located in northeastern Ontario, Canada. The company holds an option to acquire a 100% interest in the project, which is subject to a 2% Net Smelter Return (NSR) royalty. Centurion can purchase 1% of the NSR for $1,000,000. The project is at an early exploration stage.