$1.4-million Private Placement Amended
|January 24, 2005
Acero-Martin Exploration Inc. has agreed, subject to TSX Venture Exchange approval, to increase the number of units and to lower the unit price and the warrant exercise price of the non-brokered private placement of one million units announced in Stockwatch on Dec. 8, 2004, and Dec. 24, 2004. The number of units will be increased to 1,217,391 units and the unit price will be changed from $1.40 to $1.15 per unit for gross proceeds of $1.4-million. The warrant exercise price will be changed from $1.60 to $1.30. Each unit consists of one common share issued on a flow-through basis and one-half share of a purchase warrant, each whole warrant entitling the holder to acquire one additional non flow-through common share at the reduced exercise price of $1.30 per share over a nine-month term. All other terms of the placement will remain unchanged.