Home Corporate projects News Investors Contact
Gold, Copper and Growth
 
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004


News



Change in Management / Closing of 4,000,000 Unit Non-Brokered Private Placement / Setting of New Incentive Stock Options

April 29, 2010

Vancouver, B.C.:  Acero-Martin Exploration Inc. (the “Company”) is pleased to announce that it will be appointing Carlos Agreda as its General Manager of its Peru operations following the departure of Ralph Stricklen, effective April 30, 2010.  Mr. Agreda was part of the Canper organization at its inception and brings many years of mining experience to his position.

At this time the Company would like to acknowledge and thank Mr. Stricklen for his efforts with Company’s Peru operations.

The Company also wishes to announce that further to it news release dated March 24, 2010 it has received conditional TSX Venture Exchange approval and has closed its 4,000,000 Unit private placement at 20 cents per Unit as announced by press release March 24, 2010, raising gross proceeds of $800,000 and issuing a total of 4,000,000 common shares to its placees at $0.20 per share and issuing 4,000,000 Warrant Certificates for 4,000,000 Warrant Shares.  Each Warrant is exercisable into one common share at $0.20 per share expiring 24 months from the closing date; resulting in the further issuance of 4,000,000 common shares should all the Warrant Shares be exercised pursuant to the placement. All of the securities issued pursuant to the private placement, including any shares issued on the exercise of warrants, are subject to a four-month hold period.  A finder’s fee of cash was paid representing 10% of the total gross proceeds raised. 

The Company also wishes to announce that it will not be proceeding with the Solitaire agreement for the joint-venture of its Pinaya Property in Peru which was previously announced June 22, 2009.

Proceeds from the private placement will be used to fund the continued exploration and development of the Pinaya gold-copper project in southern Peru, the continued exploration of the Red Mountain gold project in Yukon Territory, Canada, and for general working capital purposes.

In addition, the Company further wishes to announce that it will grant up to 3,500,000 common shares pursuant to incentive stock options for granting to certain of its directors, employees, and consultants under the Company’s 2009 Rolling Stock Option Plan, which Plan received shareholder approval at the August 27, 2009 Annual General Meeting.  The options will be granted at the exercise price of $0.35 per share for a five year period, subject to TSX Venture Exchange approval.

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 604-646-0067 or 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.

 
     
Sign up for latest updates
*  Email Address:

 
 
© Copyright AM Gold Inc. 2016
 
 
HOME  |  CORPORATE  |  PROJECTS  |  NEWS  |  INVESTORS  |  CONTACT  |  DISCLAIMER