CARDSTON, ALBERTA--(Marketwired - Aug. 30, 2016) - American Creek Resources Ltd. (TSX VENTURE:AMK) ("the Corporation") today announced that it has closed the second and final tranche of the private placement ("the Offering") previously announced on July 14, 2016. Proceeds of $51,000 were raised in the second tranche through the sale of 127,500 Units.
Each $0.40 Unit consisted of three flow-through common shares ("FT Share") and one non flow-through common share ("Common Share") of the Corporation along with four non-transferrable warrants (a "Warrant"). Each Warrant may be exercised for one additional non flow-through common share for a period of 12 months from the closing date of the Offering at a price of $0.15.
Flow-through proceeds will be used for exploration on the Corporation's Gold Hill, Electrum and other properties. Non flow-through proceeds will be used for general operating and the settling of current debt.
The securities issued in this financing are subject to a statutory four month hold period. This private placement closing is subject to approval by the TSX Venture Exchange.
As previously announced, American Creek recently entered into joint venture agreements with Tudor Gold Corp. ("Tudor") on its Electrum and Treaty Creek projects located in the Golden Triangle of BC.
An exploration program consisting of trenching and diamond drilling is currently underway at the Electrum property. An extensive magnetotelluric survey has recently been completed at Treaty Creek and raw data collected in the survey is currently being compiled for analysis. A Treaty Creek diamond drilling program is now in progress. Tudor is the operator of both projects.
A field program is also currently underway on the Corporation's Gold Hill project located east of Cranbrook, BC in the historic gold rush Wild Horse River watershed.
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.
Information relating to the Corporation is available on its website at www.americancreek.com
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.