AMERICAN CREEK ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
July 24, 2009TSX-V: AMK
Raymond, Alberta… American Creek Resources Ltd. (the “Corporation”) is pleased to announce that on July 24, 2009, it closed the first tranche of the private placement announced on July 15, 2009, and has issued 625,000 units (“Units”) at a price of $0.40 per Unit for gross proceeds of $250,000.Each Unit consists of one flow-through common share of the Corporation (“FT Share”) along with one non-flow-through common share of the Corporation (“Common Share”) and two non-transferable Common Share purchase warrants (a “Warrant”).Each whole Warrant may be exercised for one additional non-flow-through Common Share at a price of $0.40 per Common Share for a period of two years from the closing of the Offering, provided that the Warrants will expire if not exercised within 15 business days from receipt by the holder of written notice from the Corporation that the Common Shares have traded at $0.80 or higher for 10 consecutive trading days. Insiders of the Corporation purchased an aggregate of 46,250 Units under the private placement. Finder’s fees consisting of $3,750 and the issuance of 18,750 Warrants were paid to certain arm’s length finders in connection with this tranche of the private placement. All securities issued in connection with the private placement are subject to a hold period which expires on November 25, 2009. The Corporation expects to close on the balance of the private placement in the near future. The offering of up to 1,000,000 units at a price of $1.25 per unit previously announced on March 26, 2009 has been discontinued.
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.
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.