RAYMOND, AB, April 17 /CNW/ - American Creek Resources Ltd. (TSX-V: AMK)
(the "Corporation") today announced that it has closed a non-brokered private
placement of 1,500,000 units of the Corporation ("Units") at a price of
$2.00 per Unit for gross proceeds of $3 million. Each Unit consisted of one
common share of the Corporation ("Common Share") and one non-transferable
common share purchase warrant (a "Warrant") entitling the holder to acquire
one additional Common Share at a price of $3.75 for a period of one year.
The Units were sold to qualified purchasers resident in Alberta and
Saskatchewan in reliance upon exemptions from the prospectus and registration
requirements of applicable securities legislation.
In connection with the sale of 225,000 Units, the Corporation paid
finders fees to: National Bank Financial Ltd. in the sum of $5,000; Ayub
Umarji in the sum of $15,000 and issued to Ginette Greening an aggregate of
1,250 Common Shares at a deemed price of $2.00 per Common Share. All of the
finders are at arm's length to the Corporation and the finder's fees
represented either 5% of the gross proceeds from, or 5% of the number of,
Units sold to purchasers referred by such finders.
The Common Shares and Warrants forming part of the Units and the Common
Shares issued pursuant to the exercise of the Warrants and in payment of the
finder's fee are all subject to a 4 month restricted period expiring on
August 18, 2007.
The TSX Venture Exchange approved the private placement and finder's fee
by Bulletin dated April 17, 2007.
American Creek Resources Ltd. is an aggressive junior mineral exploration
company focused on the acquisition, exploration and development of gold and
silver deposits within the Province of British Columbia, Canada.
The Corporation's shares trade on the TSX Venture Exchange under the
Certain information contained in this news release constitutes
forward-looking statements regarding the Corporation's mineral properties.
Forward looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate" or statements
that certain events or conditions "may" or "will" occur. Forward-looking
statements are based on the reasonable opinions and estimates of management of
American Creek and are subject to a variety of risks, uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include: the
inherent risks involved in the exploration and development of mineral
properties, uncertainties involved in the interpretation of drill results and
other geological data, fluctuating commodity prices, unforeseen permitting
requirements, changes in environmental laws or regulations, the possibility of
project cost overruns or unanticipated costs and expenses, weather conditions,
the availability of contractors for equipment and services, the availability
of future financing and general business and economic conditions. Such
statements are also based on a number of assumptions which may prove to be
incorrect, including assumptions about general business and economic
conditions being accurate, the timing and receipt of regulatory approvals for
projects and operations, the availability of financing, the ability to secure
equipment and labour, and American Creek's ongoing relationship with third
parties. The foregoing factors, risks and assumptions are not exhaustive.
Events or circumstances could cause actual events or results to differ
materially from those estimated or projected and expressed in, or implied by,
these forward-looking statements. Accordingly, readers should not place undue
reliance on forward-looking statements. These forward-looking statements are
as of the date they are made and American Creek disclaims any obligation to
update any forward-looking statements, except as required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Darren R. Blaney, Chief Operating Officer,
Phone: (403) 752-4040, Fax: (403) 752-4020, or Email: dblaney@
americancreek.com. Information relating to the Corporation is available on its
website at www.americancreek.com.