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Acero-Martin Exploration Inc. to proceed with 4-1 rollback

September 18, 2009

Acero-Martin Exploration Inc. announces all formal business as set out in the Company’s Information Circular dated July 24, 2009, was tabled and approved at its annual and Special General Meeting held on August 27, 2009 (the “Meeting”).  A copy of the Information Circular was mailed to shareholders, and filed on SEDAR (www.sedar.com).

At the Meeting, shareholders approved a consolidation of the Company’s common shares on the basis of one (1) post-consolidated share for every four (4) pre-consolidated shares (the “Consolidation”).  The Company does not anticipate a name change in connection with the Consolidation.  The directors are proceeding to implement the Consolidation.

The Company currently has 109,388,510 issued and outstanding common shares.  After the Consolidation the Company would have approximately 27,347,127 shares outstanding following the Consolidation.  The exact number of post-consolidated shares will vary depending on the treatment of fractional shares which will occur when each shareholder’s holdings in the Company are consolidated.  Outstanding stock options and warrants would similarly be adjusted by the Consolidation Ratio.

The Company also announces that it has made an application to the TSX Venture Exchange to extend the term of the 13,531,039 warrants that are set to expire on September 15, 2009 and the 1,558,350 warrants that are set to expire on October 8, 2009 to September 15, 2010 and October 8, 2010 respectively and to change the exercise prices from $0.10 per share to $0.06 per share.

The number of warrants held by insiders of the Company will be pro rated amongst this group in order that the total numbers of warrants held by insiders that are subject to the amended terms will not exceed 10% of the total number of warrants issued under the private placement.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

 

On behalf of the Board:

“Michael C. Scholz”
___________________
Michael C. Scholz
Chairman and Director
ACERO-MARTIN EXPLORATION INC.


For further information on the Company, please contact us at 1-877-646-0067 or by e-mail at , or visit our website http://www.acero-martin.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 
     
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