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Share Name | Share Symbol | Market | Type |
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TSXV:AJC | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
American Consolidated Minerals Corp. (TSX VENTURE:AJC) (the "Company") announces it has arranged a non-brokered private placement of up to 20,000,000 Units at a price of $0.05 per Unit for gross proceeds of $1,000,000. 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 $0.10 for a period of 12 months. The net proceeds of the private placement will be added to working capital and will be used for the extensive exploration program currently being conducted on the Sierra Rosario silver and gold project, located in Sinaloa State, Mexico (see news release of November 16, 2011). Al Fabbro, President and a director of the Company, intends to subscribe for 10,000,000 Units of the private placement. 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
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