Williams Creek Explorations Limited
TSX VENTURE : WCX

Williams Creek Explorations Limited

December 07, 2010 19:46 ET

Williams Creek Explorations Limited Announces Amendment to Flow Through Share Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2010) - Williams Creek Explorations Limited ("the Company", "WCX", or "Williams Creek") (TSX VENTURE:WCX) reports that it has amended the terms of its offering of Flow Through Shares described in the News Release of December 07, 2010: the terms of the new offering (the "Offering") are identical to those listed in the previous news release with the addition that each Flow Through share will be accompanied by one half of one warrant exercisable for 18 months from the date of the closing of the financing at a strike price of $0.75 CAD. The precise terms are as follows.

Williams Creek has engaged Loewen, Ondaatje, McCutcheon Limited to conduct a brokered private placement of 4,324,326 Flow Through Shares at a price of 0.37 CAD per share with each share accompanied by one half of one warrant exercisable for 18 months from the date of the closing of the financing at a strike price of $0.75 CAD (the "Offering") for gross proceeds of 1,600,000 CAD. The proceeds from the offering will be used in order to fund Canadian Exploration Expenses associated with the exploration of Williams Creek's crown grants in the Barkerville area of British Columbia.

There is an over-allotment of 275,000 CAD in the event that the Offering is over-subscribed. Loewen, Ondaatje, McCutcheon Limited will be paid a cash fee equal to 6.0% of the gross proceeds raised in the Offering and receive non-transferable options to acquire common shares in an amount equal to 6.0% of the number of Flow Through Shares sold. Closing of the Offering is anticipated to be on or about December 21, 2010.

The Offering:

All securities issued pursuant to the private placements will be subject to a four month hold period. Completion of the offerings is subject to the satisfaction of certain conditions, including TSX Venture Exchange acceptance of the offerings.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. 

About WCX:

Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Explorations Ltd. Williams Creek Explorations Ltd. is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold subsector, through exploration, joint ventures or other equity investments.

The Company owns twenty-eight crown granted mineral claims in the Cariboo Mining Division and three crown granted mineral claims in the Kamloops Mining Division. The Company also has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.

This news release may contain forwardlooking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of this news release which has been prepared by management.

Contact Information

  • Williams Creek Explorations Limited
    Michael Sonnenreich
    514.393.3232
    or
    Williams Creek Explorations Limited
    Dov Zigler
    514.393.3232
    www.WilliamsCreek.ca