Century Energy Ltd. (TSX VENTURE:CEY) announced that the company has received conditional acceptance from the TSX Venture Exchange to complete the issuance of up to 2,266,667 Common Shares in the capital of Century, at a deemed price of $0.075 per share, in satisfaction of amounts owed by Century pursuant to tax indemnities provided to subscribers in connection with flow-through private placements completed in 2006 and 2007.
The press release is quoted as saying:
The Company will issue the shares upon execution of settlement agreements with the subscribers. To date, the Company has issued an aggregate of 743,016 Common Shares pursuant to such settlement agreements. There is no guarantee that additional settlement agreements will be entered into, nor that additional shares will be issued therefore.
