Non-Brokered Private Placement of Up to 20,000,000 Units

American Consolidated Minerals Corp.(TSXV:AJC) announced the arrangement of a new non-brokered private placement. The private placement consisted of 20,000,000 units at $0.05 for gross proceeds of $1,000,000.

As quoted in the press release:

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.

Click here to read the American Consolidated Minerals Corp. (TSXV:AJC) press release