American Consolidated Announces Non-Brokered Private Placement
March 19 2010 - 8:00AM
Marketwired
American Consolidated Minerals Corp. (the "Company") (TSX VENTURE:
AJC) announces it will conduct, on a best-efforts basis, a
non-brokered private placement of 6,000,000 Units at a price of
$0.10 per Unit for gross proceeds of $600,000.
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
$0.15 in year one and $0.20 in year two.
The net proceeds of the private placement will be added to
working capital and will be used to finance the 2010 gold
exploration programs for Toiyabe in the Cortez Trend in Nevada and
the Lone Ranch Project in Washington State.
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 Corporation Al Fabbro
President & Director (604) 602-4935 (604) 602-4936 (FAX)
www.americanconsolidatedminerals.com