CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd. (TSX-V:AMK) (“the Corporation”) today announced that it has closed the fully subscribed private placement financing previously announced on January 30, 2018.
A total of 6,000,000 units (“Units”) at a price of $0.05 per Unit were subscribed for resulting in gross proceeds of $300,000 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 $0.08 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 issued 600,000 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 February 4, 2028. The options are subject to a statutory four month hold period.
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.