December 1, 2014 TSX-V: AMK
American Creek Resources Ltd. (TSX-V: AMK) (“American Creek” or “the Corporation”) today announced that has closed the non-brokered private placement that was announced on October 17, 2014. The Corporation raised proceeds of $466,600 by issuing 9,332,000 units at a purchase price of $0.05 per unit. The offering was not fully subscribed.
Each unit consists 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.
The Common Shares and Warrants issued in this offering are subject to a hold period of four months and a day from issuance.
One participant purchased 200,000 units in the offering under Alberta Securities Commission Rule 45-513 Prospectus Exemption for Distribution to Existing Security Holders.
No finder’s fees were paid out with respect to this private placement. Proceeds will be used to settle current debts, to fund continuing litigation with Teuton Resources Corp. and for general operating purposes. Insiders bought 400,000 units of the offering.
This private placement closing is subject to approval 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.