Century Mining Corp. (CMM.V) announced that Deutsche Bank AG, London Branch has delivered its consent to the proposed plan of arrangement between the Company and White Tiger Gold Ltd. as required by the Amended and Restated Arrangement Agreement between Century and White Tiger.
The Company further announces that the amended and restated forward gold purchase agreement with Deutsche Bank AG, London Branch which became effective as of August 14, 2011 has been further amended effective as of September 9, 2011.
The company said that the effect of the Second Amended and Restated Forward Agreement is to extend flexibility for Century through October 31, 2011 with respect to the sale of gold and the utilization of funds from the Performance Reserve Account for the payment of certain obligations of the Company, including the previously announced loan amount in favour of DB of $3.25 million, with a provision that the Performance Reserve Account be restored through equity raises to be conducted by the Company.
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