American Creek announces $1,250,000 private placement offeringadmin
American Creek Resources Ltd. announced that it will be offering on a non-brokered private placement basis up to 1,000,000 units at a price of $1.25 per Unit for gross proceeds of $1,250,000 if the Offering is fully subscribed. Each Unit will consist of four flow-through common shares of the Corporation along with one non flow-through common share of the Corporation and two and one half non-transferable Common Share purchase warrants. Each whole Warrant may be exercised for one additional non flow-through Common Share at a price of $0.40 per Common Share for a period of one year from the closing of the Offering, 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 $0.80 for 10 consecutive trading days.
Units will be offered to qualified purchasers resident in Canada in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. Proceeds from the sale of the FT Share portion of each Unit will be used to incur expenditures which qualify as Canadian Exploration Expenses and will be spent primarily on the Corporation’s Treaty Creek Project located in British Columbia. Insiders of the Corporation may participate in the Offering.
The Offering is subject to acceptance by the TSX Venture Exchange and if permitted under applicable securities laws and by the Exchange, the Corporation will pay a finder’s fee to dealers, limited market dealers and other arm’s length third parties equal to 5% of the gross proceeds realized from the sales made to purchasers referred to the Corporation by a Finder. The finder’s fee may be paid in either cash or shares or both, at the sole discretion of the Corporation.
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.