By Sheri Kasprzak
New York, Feb. 15 - Acero-Martin Exploration Inc. intends to conduct two private placements - a brokered one for C$6 million and a non-brokered one for C$2 million.
The brokered offering includes up to 12 million units at C$0.50 apiece.
Each unit consists of one share and one warrant with each warrant exercisable at C$0.75 for one year.
Union Securities Ltd. is the placement agent.
In the non-brokered deal, the company plans to sell up to 4 million units under the same terms.
Proceeds from both deals will be used for exploration and development on the company's Pinaya gold-copper projects in southern Peru and for working capital.
Vancouver, B.C.-based Acero-Martin is a mineral exploration company.
C$6 million placement
| Issuer: | Acero-Martin Exploration Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$6 million
|
| Units: | 12 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Placement agent: | Union Securities Ltd.
|
| Pricing date: | Feb. 15
|
| Stock symbol: | TSX Venture: ASD
|
| Stock price: | C$0.54 at close Feb. 14
|
|
|
| C$2 million placement
|
| Issuer: | Acero-Martin Exploration Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 15
|
| Stock symbol: | TSX Venture: ASD
|
| Stock price: | C$0.54 at close Feb. 14
|
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