Uranium Mining and Exploration

[McBeanburger]

Centram Exploration to raise $5-million privately


2007-02-26 15:43 ET - News Release

Mr. Richard Mark reports

CENTRAM ARRANGES $5 MILLION PRIVATE PLACEMENT AND GRANTS OPTIONS

Centram Exploration Ltd., in connection with the joint venture with Crossland Uranium Mines Ltd. reported in Stockwatch Feb. 15, 2007, has arranged a non-brokered $5-million private placement.

The private placement will consist of up to 12.5 million units of Centram at a price of 40 cents each. Each unit comprises one common share and one-half of one common share purchase warrant. Each full warrant entitles the holder to acquire a common share of Centram at an exercise price of 60 cents for a period of two years from closing. The warrants will be subject to forced conversion if the common shares of Centram close at $1 or more for 20 consecutive trading days. The proceeds of the private placement will be held in escrow, and release is conditional upon Centram graduating to Tier 2 of the TSX Venture Exchange.


The remainder is available to Stockwatch subscribers.