On June 24, 2011, Cenit Corporation (“Cenit”) completed its change of business transaction to a Tier 2 resources issuer and closed a non-brokered private placement (the “Offering”).

The Offering consisted of the sale 4,936,700 flow-through units (“FT Units”) at $0.15 per FT Unit and 19,564,000 hard-dollar units (“HD Units”) at $0.10 per HD Unit for gross proceeds of $2,696,905. Each FT Unit consists of one common share in the capital stock of Cenit (“Common Share”) issued on a flow-through basis and one-half (½) of one Common Share purchase warrant (“FT Warrant”). Each HD Unit consists of one Common Share and one-half (½) of one Common Share purchase warrant (“HD Warrant”). Each whole FT Warrant entitles the holder to purchase one Common Share at a price of $0.30 for a period of 24 months from the date of issuance and each whole HD Warrant entitles the holder to purchase one Common Share at a price of $0.20 for a period of 24 months from the date of issuance.

Peterson Law represented Cenit with a team that included Dennis Peterson and David Gardos.