By Devika Patel
Knoxville, Tenn., Aug. 29 - Acero-Martin Exploration, Inc. said it plans a C$2 million non-brokered private placement of units.
The company will sell up to 26,666,667 units at C$0.075 apiece. Each unit consists of one common share and one half-share warrant. Each full warrant is exercisable into at C$0.09 for one year.
Proceeds 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.
Vancouver, B.C.-based Acero-Martin is a mineral exploration company.
| Issuer: | Acero-Martin Exploration, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 26,666,667
|
| Price: | C$0.075
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.09
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 29
|
| Stock symbol: | TSX Venture: ASD
|
| Stock price: | C$0.08 at close Aug. 29
|
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