October 17, 2014 TSX-V: AMK
American Creek Resources Ltd. (TSX-V: AMK) (“American Creek” or “the Corporation”) today announced that it will be offering on a non-brokered private placement basis (“the Offering”) up to 12,000,000 units (“Units”) at a price of $0.05 per Unit for gross proceeds of $600,000 if the Offering is fully subscribed. Each Unit will consist of one common share of the Corporation (“Common Share”) and one non-transferrable Common Share purchase warrant (“Warrant”). Each Warrant may be exercised for one additional Common Share for a period of 24 months from the closing date of the Offering at a price of $0.10 if exercised in the first 12 months and $0.15 thereafter if exercised in the remaining 12 month period.
Units will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.
The Corporation also takes this opportunity to inform its current shareholder base that under recent changes to Canadian securities exemptions (Multilateral CSA Notice 45-313) , existing shareholders of American Creek who may not have been eligible to participate in past private placements may be able to invest up to $15,000 in this offering.
Proceeds will be used to settle current debts, to fund continuing litigation with Teuton Resources Corp. and for general operating purposes. A finder’s fee of 7% may be paid related to this offering. Insiders may participate in this Offering.
This private placement is subject to approval by the TSX Venture Exchange.
The Corporation also reports that since the Corporation’s last news release on October 8, 2014, Seabridge Gold has forwarded a copy of amended permit MX-1-763 dated September 26, 2014 related to the KSM project which can be viewed by clicking (here).
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.