Mr. Darren Blaney reports
AMERICAN CREEK RESOURCES ANNOUNCES GRANT OF OPTIONS AND OPTION REPRICING
American Creek Resources Ltd. has granted incentive options to certain directors, officers and consultants of the company to purchase up to an aggregate of 22.81 million common shares pursuant to the company's share option plan. These options are fully vested on grant and are exercisable for a period of 10 years at a price of nine cents per share. The incentive options are subject to a hold period of four months and a day from issuance.
The company's stock option plan is administered by American Creek's board of directors and is a rolling 10-per-cent stock option plan. The aggregate number of optioned common shares that may be issued upon the exercise of stock options granted under the stock option plan may not exceed 10 per cent of the number of issued and outstanding common shares of the company at the time of granting of options. In accordance with TSX Venture Exchange policies, as the stock option plan is a rolling stock option plan, it must receive approval of the company's shareholders yearly at the company's annual general meeting. The stock option plan authorizing the issuance of these incentive options was approved at the most recent annual general meeting held on Nov. 27, 2024.
American Creek also announces that the board of directors has approved the repricing of the exercise price of a total of 8.6 million outstanding incentive options from 18 cents to nine cents per common share, and a total of 5.6 million outstanding incentive options from 20 cents to nine cents per common share. The repricing of these options is subject to the approval of the TSX Venture Exchange. The repricing of 10.85 million incentive options held by insiders of the company is also subject to the approval of disinterested shareholders of the company at American Creek's next annual general meeting of shareholders in accordance with the policies of the TSX Venture Exchange. Details regarding the repricing of these options will be further disclosed in the company's information circular for its next annual general meeting.
About American Creek Resources Ltd.
American Creek is a proud partner in the Treaty Creek project, a joint venture with Tudor Gold Corp., located in British Columbia's prolific Golden Triangle.
American Creek holds a fully carried 20-per-cent interest in the Treaty Creek project until a production notice is given, meaning that no exploration or development costs are incurred by American Creek until such time as a production notice has been issued. American Creek shareholders have a unique opportunity to avoid the dilutive effects of exploration while maintaining a full 20-per-cent exposure to one of the world's most exciting megadeposits.
The company also holds the Austruck-Bonanza gold property located near Kamloops, B.C.
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