Acero-Martin Announces All Formal Business as Set Out in the Company's Information Circular
2009年9月19日 - 7:11AM
Marketwired
Acero-Martin Exploration Inc. (TSX VENTURE: ASD)(FRANKFURT: AMX)
announces all formal business as set out in the Company's
Information Circular dated July 24, 2009, was tabled and approved
at its annual and Special General Meeting held on August 27, 2009
(the "Meeting"). A copy of the Information Circular was mailed to
shareholders, and filed on SEDAR (www.sedar.com).
At the Meeting, shareholders approved a consolidation of the
Company's common shares on the basis of one (1) post-consolidated
share for every four (4) pre-consolidated shares (the
"Consolidation"). The Company does not anticipate a name change in
connection with the Consolidation. The directors are proceeding to
implement the Consolidation.
The Company currently has 109,388,510 issued and outstanding
common shares. After the Consolidation the Company would have
approximately 27,347,127 shares outstanding following the
Consolidation. The exact number of post-consolidated shares will
vary depending on the treatment of fractional shares which will
occur when each shareholder's holdings in the Company are
consolidated. Outstanding stock options and warrants would
similarly be adjusted by the Consolidation Ratio.
The Company also announces that it has made an application to
the TSX Venture Exchange to extend the term of the 13,531,039
warrants that are set to expire on September 15, 2009 and the
1,558,350 warrants that are set to expire on October 8, 2009 to
September 15, 2010 and October 8, 2010 respectively and to change
the exercise prices from $0.10 per share to $0.06 per share.
The number of warrants held by insiders of the Company will be
pro rated amongst this group in order that the total numbers of
warrants held by insiders that are subject to the amended terms
will not exceed 10% of the total number of warrants issued under
the private placement.
This news release was prepared on behalf of the Board of
Directors, which accepts full responsibility for its contents.
On behalf of the Board:
Michael C. Scholz, Chairman and Director
ACERO-MARTIN EXPLORATION INC.
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: Acero-Martin Exploration Inc. Investor Relations
1-877-646-0067 (604) 646-0640 (FAX) info@acero-martin.com
www.acero-martin.com
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