July 19, 2016 TSX-V: AMK
American Creek Resources Ltd. (TSX-V: AMK) (“the Corporation”) today announced that it has closed the first tranche of 312,500 Units amounting to proceeds of $125,000 of the non-brokered private placement (“the Offering”) previously announced on July 14, 2016. The Offering consists of up to 750,000 units (“Units”) at a price of $0.40 per Unit for gross proceeds of $300,000 if the Offering is fully subscribed. Each Unit consists of three flow-through common shares (“FT Share”) and one non flow-through common share (“Common Share”) of the Corporation along with four non-transferrable warrants (a “Warrant”). Each Warrant may be exercised for one additional non flow-through common share for a period of 12 months from the closing date of the Offering at a price of $0.15
Flow-through proceeds will be used for exploration on the Corporation’s Gold Hill, Electrum and other properties. Non flow-through proceeds will be used for general operating and the settling of current debt.
The securities issued in this financing are subject to a statutory four month hold period.
This private placement is subject to approval by the TSX Venture Exchange.
As previously announced, American Creek recently entered into joint venture agreements with Tudor Gold Corp. (“Tudor”) on both its Electrum and Treaty Creek projects located in the Golden Triangle of BC. A drill program is currently underway at the Electrum and Tudor is presently making plans for exploration this summer at Treaty Creek.
A field program is also currently underway on the Corporation’s Gold Hill project located east of Cranbrook, BC in the historic gold rush Wild Horse River watershed.
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.