CARDSTON, ALBERTA–(Marketwired – April 25, 2017) – American Creek Resources Ltd. (TSX VENTURE:AMK) (“the Corporation”) today announced that it has closed the first tranche of the non-brokered private placement (“the Offering”) previously announced on April 21, 2017. A total of 3,060,000 units (“Units”) were subscribed for at a price of $0.05 per Unit for proceeds of $153,000. Each Unit consists of one common share of the Corporation (“Common Share”) and one non-transferrable Common Share purchase warrant (“Warrant”). Each Warrant may be exercised for one additional Common Share at a price of $0.08 for a period of 24 months from the closing date of the Offering. The Warrants will be subject to an acceleration provision which provides that from and after the date that is four months and 1 day after the closing date, if the closing price of the Corporation’s shares on the TSX Venture Exchange exceeds $0.12 for 20 consecutive trading days, then the Corporation may provide notice to the Warrant holders of early expiry and thereafter, the Warrants will expire at 4:00pm MST on the date which is 15 business days after notice to the Warrant holders.
The Common Shares and Warrants issued in this Offering are subject to a hold period of four months plus a day from issuance.
Proceeds will be used for general operating purposes including settling current debt.
This private placement is subject to approval by the TSX Venture Exchange.
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific “Golden Triangle”; the Treaty Creek and Electrum joint venture projects with Tudor Gold (Walter Storm) as well as the 100% owned past producing Dunwell Mine.
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, Red Tusk and Glitter King properties located in other prospective areas of the province.
Information relating to the Corporation is available on its website at www.americancreek.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.
