March 12, 2012 TSX-V:AMK
American Creek Resources Ltd. (the “Corporation”) today announced that it will be offering on a non-brokered private placement basis (the “Offering”) up to 20,000,000 units for gross proceeds of $1,000,000 if the Offering is fully subscribed.
The Offering is comprised of 20,000,000 units at a price of $0.05 per unit for gross proceeds of up to $1,000,000. Each unit will consist 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. The Corporation has the option to increase the number of units by as much as 15% for an additional 3,000,000 units.
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.
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 is subject to acceptance by the TSX Venture Exchange.
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.