News ReleaseAmerican Consolidated Announces Non-Brokered Private Placement
14:50 EST Thursday, February 24, 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) -American Consolidated Minerals Corp. (TSX VENTURE:AJC) (the "Company") announces it has arranged a non-brokered private placement of up to 3,500,000 Units at a price of
.08 per Unit for gross proceeds of $280,000.
Each Unit will consist of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of
.12 for a period of 12 months.
The net proceeds of the private placement will be added to working capital.
The private placement is subject to TSX Venture Exchange (the "Exchange") acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
A finder's fee will apply in this transaction in accordance with the policies of the Exchange.
American Consolidated is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist.
For details on the Company and its properties, visit the Company's website at
www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD:
Al Fabbro, President & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Al FabbroAmerican Consolidated Minerals Corp.President & Director(604) 602-4935(604) 602-4936 (FAX)www.americanconsolidatedminerals.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.