Raymond, Alberta…. American Creek Resources Ltd. (the “Corporation”) today announced the closing of its previously announced non-brokered private placement with the MineralFields Group for gross proceeds of $1,250,000 (the “Offering”). The Offering was comprised of 4,166,666 units (“Units”) at a price of $0.30 per Unit with each Unit consisting of one flow-through common share of the Corporation (“FT Share”) and one warrant (a “Warrant”). Each whole Warrant may be exercised for one additional non-flow-through common share (“Common Share”) at a price of $0.45 per Common Share until August 20, 2011, provided that the Warrants will expire if not exercised within 15 days from receipt by the holder of written notice from the Corporation that the Common Shares have a closing trading price of $0.90 or higher for 10 consecutive trading days.
The Corporation paid a cash finder’s fee in the amount of 5% of the gross proceeds of the Offering to Limited Market Dealer Inc. In addition, Limited Market Dealer Inc. received that number of Warrants equal to 10% of the Units sold under the Offering. All securities issued under the Offering will be subject to a four-month hold period.
The proceeds from the Offering will be used to finance the Corporation’s ongoing exploration and development activities at the Treaty Creek Project.
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
About American Creek Resources Ltd.
The Corporation is a Canadian 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 Darren Blaney at: Phone: (403) 752-4040, Fax: (403) 752-4020 or Email: This email address is being protected from spambots. You need JavaScript enabled to view it.. Information relating to the Corporation is available on its website at www.americancreek.com
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