American Consolidated Announces Non-Brokered Private Placement
February 24 2011 - 1:50PM
Marketwired
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 $0.08 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
$0.12 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
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.
Contacts: American Consolidated Minerals Corp. Al Fabbro
President & Director (604) 602-4935 (604) 602-4936 (FAX)
www.americanconsolidatedminerals.com
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