19:50:35 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



American Creek Resources Ltd
Symbol AMK
Shares Issued 171,544,074
Close 2015-04-24 C$ 0.07
Market Cap C$ 12,008,085
Recent Sedar Documents

American Creek completes second tranche of financing

2015-04-24 20:52 ET - News Release

Mr. Darren Blaney reports

AMERICAN CREEK RESOURCES CLOSES SECOND TRANCHE OF FINANCING

American Creek Resources Ltd. has closed the second tranche of the non-brokered private placement that was previously announced on March 24, 2015. A total of 1,095,029 units were subscribed for at a price of six cents per unit for gross proceeds of $65,701.74. Each unit consists of one common share of the corporation and one non-transferable common share purchase warrant. Each warrant may be exercised for one additional common share for a period of 24 months from the closing date at a price of eight cents per share if exercised in the first 12 months and 10 cents per share if exercised in the remaining 12-month period, provided that the warrants will expire if not exercised within 15 business days from receipt by the holder of written notice that the trading price of the common shares has exceeded 12 cents for 10 consecutive trading days.

The common shares and warrants issued in this offering are subject to a hold period of four months plus a day from issuance.

Proceeds will be used to settle current debts, to finance continuing litigation with Teuton Resources Corp. and for general operating purposes.

This private placement closing is subject to approval by the TSX Venture Exchange.

The corporation has granted a total of 710,000 incentive options to certain directors, officers and consultants of the corporation under the corporation's incentive stock option plan. The options were granted at a deemed price of 10 cents and are exercisable until April 23, 2025.

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