March 21, 2012 TSX-V:AMK OTC:ACKRF
American Creek Resources Ltd. (the “Corporation”) is pleased to announce that the private placement announced on March 12, 2012 (the “Offering”) was fully subscribed and is now closed. The Offering raised proceeds of $1,031,500.
The Offering was comprised of 20,630,000 units at a price of $0.05 per unit for proceeds of $1,031,500. Each unit consisted of one common share (“Common Share”) of the Corporation along with one non-transferable Common Share purchase warrant (“Warrant”). Each Warrant may be exercised for one additional Common Share at a price of $0.10 per Common Share for a period of thirty months from the closing of the Offering. Insiders of the Corporation purchased 4,500,000 units of the Offering. No finder’s fees were paid with respect to the Offering.
Proceeds will be used to fund continuing litigation with Teuton Resources Corp., to settle current debts, and for general operating purposes.
All securities issued in this private placement will be subject to a hold period of four months and a day from the date of issuance of the securities. The Offering has been approved by the TSX Venture Exchange.
The Corporation also granted a total of 4,850,000 incentive options to certain Directors, Officers, Advisors and Contractors of the Corporation under the Corporation’s incentive stock option plan. The options were granted at a deemed price of $0.10 and are exercisable until March 20, 2022.
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.
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.