| October 09, 2009 American Consolidated Agrees to Settlement of Debt | |
| Vancouver, British Columbia....American Consolidated Minerals Corp. (the "Company") announces that it has agreed to settle $154,975 in outstanding debt to directors and officers of the Company through the issuance of 1,408,864 shares at a deemed value of $0.11 per share. The debt settlement is subject to approval by the TSX Venture Exchange. Shares issued in connection with the debt settlement will be subject to a four month hold period. In addition, pursuant to Exchange policies and the Company's Stock Option Plan, an aggregate of 4,100,000 shares have been granted as incentive stock options at an exercise price of $0.11 per share. The options are exercisable for a period of five years, ending on October 9, 2014, and are subject to the requirements of the TSX Venture Exchange. ON BEHALF OF THE BOARD: Signed "Al Fabbro" Al Fabbro, President & Director For further information, please contact: Al Fabbro Telephone: 1-604-602-4935 / Toll Free: 1-866-602-4935 Facsimile: 1-604-602-4936 / Website: www.americanconsolidatedminerals.com 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. | |
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