RAYMOND, AB, Aug. 20 /CNW/ - American Creek Resources Ltd. (the
"Corporation") today announced the closing of its previously announced
non-brokered private placement with the MineralFields Group for gross proceeds
of $1,250,000 (the "Offering"). The Offering was comprised of 4,166,666 units
("Units") at a price of $0.30 per Unit with each Unit consisting of one
flow-through common share of the Corporation ("FT Share") and one warrant (a
"Warrant"). Each whole Warrant may be exercised for one additional
non-flow-through common share ("Common Share") at a price of $0.45 per Common
Share until August 20, 2011, provided that the Warrants will expire if not
exercised within 15 days from receipt by the holder of written notice from the
Corporation that the Common Shares have a closing trading price of $0.90 or
higher for 10 consecutive trading days.
The Corporation paid a cash finder's fee in the amount of 5% of the gross
proceeds of the Offering to Limited Market Dealer Inc. In addition, Limited
Market Dealer Inc. received that number of Warrants equal to 10% of the Units
sold under the Offering. All securities issued under the Offering will be
subject to a four-month hold period.
The proceeds from the Offering will be used to finance the Corporation's
ongoing exploration and development activities at the Treaty Creek Project.
About MineralFields, Pathway and First Canadian Securities(R)
MineralFields Group (a division of Pathway Asset Management), based in
Toronto and Vancouver, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds (including the Pathway Multi Series Funds
Inc. corporate-class mutual fund series). Information about MineralFields
Group is available at www.mineralfields.com. First Canadian Securities(R) is
active in leading resource financings (both flow-through and hard dollar PIPE
financings) on competitive, effective and service-friendly terms, and offers
investment banking, mergers and acquisitions, and mining industry consulting,
services to resource companies. MineralFields and Pathway have financed
several hundred mining and oil and gas exploration companies to date through
First Canadian Securities(R).
About American Creek Resources Ltd.
The Corporation is a Canadian 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.
For further information:
For further information: Darren Blaney at: Phone: (403) 752-4040, Fax:
(403) 752-4020 or Email: email@example.com; Information relating to the
Corporation is available on its website at www.americancreek.com