PR
Acero-Martin Exploration raises $180,000 for Pinaya
2006-05-29 20:52 ET - News Release
Mr. Donald Gee reports
ACERO-MARTIN CLOSES $180,000 PRIVATE PLACEMENT
Further to Acero-Martin Exploration Inc.'s news in Stockwatch dated April 21, 2006, the company has now closed a fully subscribed non-brokered private placement of $180,000 at 60 cents per unit. Each unit consists of one common share of the company and one-half of a share purchase warrant. One whole warrant will entitle the holder thereof to purchase one additional share of the company at a price of 75 cents per warrant share up to and including Nov. 26, 2006, and at a price of 90 cents per warrant share thereafter and up to and including May 26, 2007.
All shares issued pursuant to this private placement together with any shares issuable on the exercise of the warrants have a hold period expiring Sept. 27, 2006. The proceeds of the financing will be used to finance the continuing drilling and exploration on the Peruvian Pinaya project and general working capital.