CARDSTON, ALBERTA--(Marketwired - Sept. 28, 2015) - American Creek Resources Ltd. (TSX VENTURE:AMK) ("the Corporation") today announced that it will be offering on a non-brokered private placement basis ("the Offering") up to 1,500,000 flow-through units ("FT Units") at a price of $0.05 per FT Unit for proceeds of $75,000 and up to 1,500,000 non flow-through units ("Units") at a price of $0.05 per Unit for proceeds of $75,000. A total of $150,000 in proceeds will be raised if the Offering is fully subscribed. Each FT Unit will consist of one flow-through common share of the Corporation ("FT Common Share") and one non-transferrable, non flow-through Common Share purchase warrant ("Warrant"). Each Unit will consist of one non flow-through 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 30 months from the closing date of the Offering at a price of $0.08 if exercised in the first 24 months and $0.10 thereafter if exercised in the remaining 6 month period.
The securities will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.
The Corporation also takes this opportunity to inform its current shareholder base that under recent changes to Canadian securities exemptions (Multilateral CSA Notice 45-313), existing shareholders of American Creek who may not have been eligible to participate in past private placements may be able to invest up to $15,000 in this offering.
Proceeds will be used to settle current debts, to fund continuing litigation with Teuton Resources Corp. and for general operating purposes. Flow-through proceeds will be used for exploration of the Corporation's Electrum and Gold Hill properties. A finder's fee of 5% 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.