Acero-Martin Announces Non-Brokered Private Placement
Acero-Martin Exploration Inc. (TSX-V: ASD; Frankfurt: AMX) ("Acero-Martin" or the "Company") announces that it intends to complete a non-brokered private placement to raise up to $2 million dollars by the issuance of up to 26,666,667 units priced at 7.5 cents per unit.
Each unit will consist of one common share of the Company ("Share") and one-half of one share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one Share of the Company a price of 9 cents per share for a period of one year.
Shares issued pursuant to the private placement, as well as any Shares issued pursuant to the exercise of the Warrants, are subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange. Finder's fees may be paid in accordance with regulatory policy.
Proceeds from the private placement will be used to fund the continued exploration and development of the Pinaya gold-copper project in southern Peru, and for general working capital purposes.
About Acero-Martin Exploration Inc.
Acero-Martin Exploration Inc. is a resource company focused on creating shareholder value by exploring for precious and base metals, with the immediate goal of defining a major deposit at its 100 percent owned Pinaya Project located in Peru. The Pinaya Project has an initial NI 43-101 compliant indicated resource of 29.13 million tonnes grading 0.53 g/t Au and 0.42% Cu (498,000 oz Au and 269 million lbs Cu) and an inferred resource of 12.72 million tonnes grading 0.41 g/t Au and 0.41% Cu (168,000 oz Au and 115 million lbs Cu). Subsequent to this estimate, Acero-Martin has continued to define the deposit by drilling an additional 90 holes bringing the project totals to more than 45,000 meters and 160 holes.
For further information, contact us at 1 877 646 0067 Email: info@acero-martin.com or visit our website http://www.acero-martin.com
ON BEHALF OF THE BOARD OF DIRECTORS "Stewart Jackson"
Stewart Jackson, PhD, P. Geol. President and CEO
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Dr. Stewart Jackson, P.Geol., President and CEO of Acero-Martin, and a qualified person. This news release has been prepared by management. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbor. |