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CARDSTON, ALBERTA--(Marketwired - Mar 9, 2016) - American Creek Resources Ltd. (TSX VENTURE:AMK) ("the Corporation") today announced that due to the last private placement being fully subscribed with demand exceeding the available units, it has decided to offer an additional non-brokered private placement ("the Offering") of up to 4,000,000 units ("Units") at a price of $0.05 per Unit for proceeds of $200,000 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 $0.08. The Warrants will be subject to an acceleration provision which provides that in the event that the market closing price of the Corporation's shares exceeds $0.12 for 20 consecutive trading days, the Corporation may within 5 days after such an event, provide notice to the Warrant holders of early expiry and thereafter, the Warrants will expire on the date which is 15 days after the date of the notice to the Warrant holders.
The securities will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. With recent changes to Canadian securities exemptions, under certain conditions investors who are not Accredited and who may not have been eligible to participate in past private placements, may be able to invest in this offering.
Proceeds will be used for general operating purposes, settling current debt, or for potential mineral property acquisitions. A finder's fee of up to 10% in cash or shares 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.
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.