American Creek is doing another Private Placement.
AMERICAN CREEK RESOURCES
American Creek Resources Ltd. announces $3.0 million private placement offering
3/20/2007
RAYMOND, AB, Mar 20, 2007 (Canada NewsWire via COMTEX News Network) --
American Creek Resources Ltd. (the "Corporation") (TSX Venture: AMK) today announced that it will be offering on a non-brokered private placement basis (the "Offering") up to 1,500,000 units of the Corporation ("Units") at a price of $2.00 per Unit for gross proceeds of $3.0 million if the Offering is fully subscribed. Each Unit will consist of one common share of the Corporation ("Common Share") and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant may be exercised for one additional Common Share at a price of $3.75 for a period of one year from the closing of the Offering.
The Units will be offered to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation.
If permitted under applicable securities laws and the TSX Venture Exchange, the Corporation will also pay a finder's fee to dealers, limited market dealers or other arm's length third parties (a "Finder") equal to 5% of the gross proceeds realized from sales made to purchasers referred to the Corporation by a Finder. The finder's fee may be paid in either cash or Common Shares or both, at the sole discretion of the Corporation.
The Offering, including payment of the finder's fees is subject to regulatory approval and closing of the Offering is expected to occur on or about April 11, 2007.
American Creek Resources Ltd. is a well funded 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. An exploration program is currently underway on the Corporation's Austruck-Bonanza Project 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.
SOURCE: American Creek Resources Ltd.
Darren R. Blaney, Chief Operating Officer, Tel: (403) 752-4040, Fax: (403) 752-4020 or Email: dblaney@americancreek.com
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