American Creek Resources Closes First Tranche of Private Placement
March 25 2013 - 6:43PM
Marketwired Canada
American Creek Resources Ltd. (TSX VENTURE:AMK) ("the Corporation") is pleased
to report that it has closed the first tranche of the previously announced
non-brokered private placement (the "Offering") (see news release dated March
19, 2013). The Corporation raised proceeds totaling $384,074.10 by issuing
853,498 units ("Unit") at a purchase price of $0.45 per Unit.
Each Unit consists 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.
The Common Shares and Warrants issued in this private placement are subject to a
hold period of 4 months and a day from issuance.
No finder's fees were paid out with respect to the private placement. Proceeds
will be used to fund continuing litigation with Teuton Resources Corp., to
settle current debts, and for general operating purposes.
The TSX Venture Exchange has approved the first tranche closing. The remainder
of the private placement is expected to close in the near future.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
American Creek Resources Ltd.
Darren Blaney
403 752-4040
info@americancreek.com
www.americancreek.com
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