02:44:38 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



American Creek Resources Ltd
Symbol AMK
Shares Issued 397,390,109
Close 2024-03-01 C$ 0.135
Market Cap C$ 53,647,665
Recent Sedar Documents

American Creek arranges $780,000 private placement

2024-03-01 11:18 ET - News Release

Mr. Kelvin Burton reports

AMERICAN CREEK RESOURCES ANNOUNCES UP TO $780,000 NON-BROKERED PRIVATE PLACEMENT FINANCING

American Creek Resources Ltd. is proposing to undertake a non-brokered private placement of up to six million units at a purchase price of 13 cents per unit to raise total gross proceeds of up to $780,000. Each unit will comprise one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of 15 cents for a period of two years from the closing date, subject to acceleration from and after the date that is four months and one day after the closing date, if the closing price of the company's common shares on the TSX Venture Exchange is equal to or exceeds 20 cents for 10 consecutive trading days, at which time the company may then accelerate the expiry date of the warrants to the date that is 30 days following the date on which the company issues notice to all the warrantholders of the new expiry date.

The gross proceeds received from the sale of the units may be used for exploration work on the company's Austruck-Bonanza property, for general working capital and to increase market awareness of the company's Treaty Creek project.

The units will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. The company will pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and the policies of the TSX Venture Exchange.

Certain directors and officers of the company may participate in the Offering. Participation by insiders in the private placement is considered a related-party transaction pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects that it will be exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the private placement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insiders will not exceed 25 per cent of the fair market value of the company's market capitalization.

All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About American Creek Resources Ltd.

American Creek is a proud partner in the Treaty Creek project, a joint venture with Tudor Gold located in British Columbia's prolific Golden Triangle.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.