Century Energy Ltd. (TSXV:CEY.H) entered into a letter of intent to acquire 1116459 B.C. Ltd. for CAD 7 million on June 30, 2017. Under the terms of the transaction, Century Energy will pay $2 million (CAD 2.6 million) in cash payable over 3 years and issue 22 million shares over 3 years as follows; 10 million shares upon closing, 4 million shares on the first anniversary, 4 million shares on the second anniversary, and 4 million shares on the third anniversary. The shares are proposed to be issued at a deemed price of CAD 0.20 per share. Century Energy will use the proceeds from private placement to fund part of the cash portion of the transaction. The transaction is subject to a number of conditions including execution of definitive agreement, TSX Venture exchange approval, completion of technical and legal due diligence and completion of the concurrent private placement. Century Energy proposes to complete the acquisition of 1116459 B.C. with the previously-announced acquisition of the Tassawini property. Century Energy Ltd. cancelled the acquisition of 1116459 B.C. Ltd. on January 29, 2019.