American Creek Resources Closes $100,000 Financing
TSX VENTURE: AMK
Cardston, Alberta--(Newsfile Corp. - January 19, 2019) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") today announced that it has closed the fully subscribed private placement financing previously announced on January 16, 2019.
A total of 2,000,000 units ("Units") at a price of $0.05 per Unit were subscribed for resulting in gross proceeds of $100,000 to the Corporation.
Each Unit consists 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 at a price of $0.06 for a period of 24 months from the closing date of the Offering.
The securities issued in this offering are subject to a four month hold period. Proceeds will be used for general operating purposes including settling current debt. This private placement closing is subject to approval by the TSX Venture Exchange.
The Corporation also reports that it has granted 4,500,000 incentive stock options at a price of $0.05 under the Corporation's incentive stock option plan to certain Directors and Officers. The options will expire on January 17, 2029. The options are subject to a statutory four month hold period.
The Corporation also reports that it has entered into a shares for debt arrangement for the settlement of $164,572.07 of the current debt outstanding to a non-arms length drilling contractor for diamond drilling completed on the Corporation's Gold Hill project. The Corporation will issue 3,291,441 common shares in the capital of the Corporation at a price of $0.05 per share.
The shares issued in relation to this shares for debt arrangement are subject to a hold period of four months plus a day from issuance. This shares for debt arrangement is also subject to approval by the TSX Venture Exchange.
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
The Corporation recently completed a preliminary exploration program, including 2,000 meters of drilling, on its 100% owned Gold Hill project located in the Wild Horse River watershed of SE British Columbia. Assay results are pending.
The Corporation also holds the Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
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.