News

Acero-Martin Non-Brokered Private Placement Announced

January 27, 2005

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 8, 2004, Dec. 24, 2004, and amended Jan. 24, 2005.

No. of shares: 1,217,391 shares (50 per cent of the common shares are flow-through)
Price: $1.15 per share

Warrants: 608,696 share purchase warrants to purchase 608,696 shares
Warrant price: $1.30 for a nine-month period

Placees: 41 placees participated

Insiders: Donald Gee 6,522; Wan Jung 6,522; Michael Scholz 121,739; Jody Dahrouge 39,130; and Desmond Balakrishnan 4,872

Pro groups:John Tognetti 42,609; and Harold Hodgson 42,609