American Creek Resources Ltd. Announces Non-Brokered Private Placement
March 20 2013 - 1:15AM
Marketwired Canada
American Creek Resources Ltd. (TSX VENTURE:AMK) (the "Corporation"), announces a
non-brokered private placement (the "Offering") replacing the private placement
offering previously announced January 22, 2013. This press release has been
issued pursuant to TSX Venture Exchange ("Exchange") policies dictating that
private placements not closed within 45 days of the original announcement
require further disclosure.
The Offering is consistent with the previous offering, and consists of up to
2,100,000 units ("Units") at a price of $0.45 per Unit for gross proceeds of
$945,000 if the Offering is fully subscribed. Each Unit will consist of eight
common shares of the Corporation ("Common Share") and eight non-transferable
Common Share purchase warrants (a "Warrant"). Each Warrant may be exercised for
one additional Common Share at a price of $0.10 per Common Share for a period of
two years from the closing of the Offering. The Warrants will be subject to an
acceleration option which provides that, in the event that the volume weighted
average trading price of the Issuer's common shares, for a period of 20
consecutive trading days, exceeds $0.16, the Company may within five days after
such an event provide notice to the Warrant holders of early expiry and
thereafter, the Warrants will expire on the date which is 15 days after the date
of the notice to Warrant holders.
Units will be offered to qualified purchasers in reliance upon exemptions from
prospectus and registration requirements of applicable securities legislation.
Proceeds will be used to fund continuing litigation with Teuton Resources Corp.,
to settle current debts, and for general operating purposes. Insiders of the
Corporation may participate in the Offering.
This Offering is subject to Exchange approval.
American Creek Resources Ltd. is a Canadian junior mineral exploration company
focused on the acquisition, exploration and development of mineral deposits
within the Province of British Columbia, Canada.
Information relating to the Corporation is available on its website at
www.americancreek.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
American Creek Resources Ltd.
Darren Blaney
403 752-4040
info@americancreek.com
www.americancreek.com
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