March 19, 2013 TSX-V: AMK
American Creek Resources Ltd. (TSX-V: 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.
For further information please contact Darren Blaney at: Phone: 403 752-4040 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
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.