Cardston, Alberta--(Newsfile Corp. - December 3, 2019) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to announce that it has closed the fully subscribed non-brokered private placement ("the Offering") of 3,500,000 flow-through shares ("FT Shares") at a price of $0.10 per FT Share for gross proceeds of $350,000.
Proceeds from the sale of the FT Shares will be used to incur expenditures which qualify as Canadian Exploration Expenses and will be spent on the Corporation's projects located in British Columbia.
The Offering is subject to acceptance by the TSX Venture Exchange (the "Exchange") and if permitted under applicable securities laws and by the Exchange, the Corporation will pay a finder's fee to arm's length third parties (a "Finder") equal to 7% of the gross proceeds realized from the sales made to purchasers referred to the Corporation by a Finder, payable in cash, together with a non-transferrable warrant ("Finder's Warrant") to purchase the number of NFT Shares equal to 7% of the gross number of shares from the sales made to purchasers referred to the Corporation by a Finder at a price of $0.10 per Common Share for a period of one year from the closing date of the Offering.
The shares and finder's warrants issued in this financing are subject to a four month hold period.
Issuance of second installment of Agoracom shares under shares for services agreement
The Company also reports that it has issued Agoracom the second instalment payment consisting of 138,970 common shares of the Company under the Shares for Services Agreement previously announced July 26, 2019. The shares will have a hold period of four months and a day from issuance.
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
Exploration, including a drill program, is presently underway on the Corporation's Dunwell project located near Stewart. Details on the property can be found here: https://americancreek.com/images/pdf/DUNWELL_MINE_SUMMARY.pdf
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50369