Jan 3 2013
Guerrero Exploration Inc. ("Guerrero" or the "Corporation") announces that it has completed the previously announced acquisition of all of the issued and outstanding shares of Pinette Copper Corp ("Pinette"), a private Vancouver-based mineral exploration company with 2 exploration properties located in Botswana. Guerrero will issue approximately 33,809,885 to the shareholders of Pinette.
The Corporation also issued 4,080,000 common shares at a deemed price of $0.05 per share to insiders to settle any obligations it may have under two existing consulting agreements. The Corporation will also pay a finder's fee of 1,250,000 shares to a third party. These 5,330,000 common shares will be subject to trading restrictions until May 2, 2013.
David Stadnyk, President and CEO of Guerrero stated, " Guerrero has been consistent in identifying a high quality property portfolio by partnering, staking and now through acquisition. The company looks forward to unlocking further value at this district scale land package of promising precious metal targets. In addition, the Company is exited with its potential work program and exploration plans for Mexico".