March 25, 2009 TSX-V: AMK
Raymond, Alberta (TSX-V: AMK) American Creek Resources Ltd. (the “Corporation”) is pleased to announce completion of a non-brokered private placement, which was announced on February 9, 2009, consisting of 10,000,000 common shares of the Corporation (“Shares”) at a price of $0.05 per Share for aggregate gross proceeds of $500,000. Insiders of the Corporation purchased an aggregate of 4,400,000 Shares under the private placement. No finder’s fees or commissions were paid in connection with the offering. All Shares issued under the private placement are subject to a hold period which expires on July 25, 2009. The proceeds from the private placement will be used to finance the Corporation’s ongoing exploration and development activities and for general working capital.
The Corporation also announces that an aggregate of 1,665,000 incentive stock options (“Options”) have been granted to certain directors, officers, consultants and employees of the Corporation. The Options are exercisable at an exercise price of $0.12 per share for a term of 5 years. Common shares which may be acquired upon exercise of the Options shall be subject to a hold period which will expire on July 25, 2009.
In addition to the grant of the Options, the Corporation announces that, subject to the approval of the TSX Venture Exchange, certain previously granted incentive stock options have been re-priced effective March 25, 2009. 150,000 options granted to an employee which were exercisable at a price of $1.54 per share until February 4, 2012 are now exercisable at a price of $0.12 per share until February 4, 2012. In addition, 10,000 options granted to an employee which were exercisable at a price of $1.55 per share until May 10, 2012 are now exercisable at a price of $0.12 per share until May 10, 2012.
The Corporation 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 Darren Blaney at Phone: (403) 752-4040, Fax: (403) 752-4020 or Email: firstname.lastname@example.org. 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.