March 14, 2001
Raymond, Alberta…American Creek Resources Ltd. (the “Corporation”) (TSX Venture: AMK) today announced that it has closed a non-brokered private placement of 750,000 units of the Corporation (“Units”) at a price of $2.00 per Unit for gross proceeds of $1.5 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 $3.50 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 245,000 Units, the Corporation paid a finder’s fee to three arm’s length individuals of an aggregate of 12,250 Common Shares (representing 5% of the Units sold to purchasers referred to the Corporation by the finders) at a deemed price of $2.00 per Common Share.
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 July 15, 2007.
The TSX Venture Exchange approved the private placement and finder’s fee by Bulletin dated March 14, 2007.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits, with several projects in the Province of British Columbia, Canada. A Phase I drill program is currently underway on the Corporation’s Austruck-Bonanza Project located near Kamloops.
Information relating to the Corporation is available on its website at www.americancreek.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.