The Prospector News

American Creek Announces Closing of $1,000,000 Strategic Financing with Eric Sprott

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

American Creek Resources Ltd. (TSX-V: AMK) is pleased to announce that it has closed its private placement financing with a private company beneficially owned by Eric Sprott, previously announced on July 29, 2019, and issued 20,000,000 units for gross proceeds of $1,000,000. No finder’s fees were paid in relation to this financing. All securities issued under this private placement are subject to a hold period expiring December 9, 2019 in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

 

In conjunction with this financing, Mr. Sprott signed a voting agreement with the Company pursuant to which he agreed to vote his shares of the Company in accordance with the recommendation of the Company’s board of directors in any M&A transaction that may occur during the next five years.

 

Eric Sprott, through 2176423 Ontario Ltd., a private company which is beneficially owned by him, acquired 20,000,000 units of the Company pursuant to this private placement. Prior to the private placement, Mr. Sprott did not beneficially own or control any securities of the Company. As a result of this private placement, Mr. Sprott is now the beneficial owner of 20,000,000 common shares of the Company and 20,000,000 warrants of the Company representing approximately 6.5% of the issued and outstanding common shares of the Company on a non-diluted basis and 12.3% on a partially diluted basis.

 

The units were acquired by Mr. Sprott, through 2176423 Ontario Ltd., for investment purposes. Mr. Sprott may acquire additional securities of the Company including on the open market or through private acquisitions or he may sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.’s related early warning report will appear on the Company’s profile on SEDAR (www.sedar.com) and may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

 

 

Darren Blaney, President & CEO of the Company, stated: “We very much appreciate Mr. Sprott’s support and look forward to working with the Sprott team in both increasing market awareness for American Creek’s projects as well as advancing those projects to their full potential.”

 

About American Creek

 

The Company holds a strong portfolio of gold and silver properties in British Columbia.

 

Three of those properties are located in the prolific “Golden Triangle”: the Treaty Creek and Electrum Joint Venture Projects with Tudor (Walter Storm), as well as the 100% owned past producing Dunwell Mine.

 

A major drill program is presently underway at the Treaty Creek project with the objective being to define a significant gold resource.

 

The Company also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.

 

Posted August 8, 2019

Share this news article

MORE or "UNCATEGORIZED"


NioCorp Announces Closing of Up-Sized Private Placement for Gross Proceeds of C$6.2 Million

Offering Was Set at a Premium to the Share Price When Launched  ... READ MORE

May 11, 2021

Osisko Drilling Returns High Grade at Lynx

180 g/t Au Over 2.2 Metres 46.8 g/t Au Over 3.3 Metres Osi... READ MORE

May 11, 2021

C2C Gold Corp. Completes $2.63 Million Private Placement and Strategic Investment by Eric Sprott

C2C Gold Corp. (CSE: CTOC;) is pleased to announce that it has c... READ MORE

May 11, 2021

International Consolidated Uranium Acquires the High-Grade Matoush Uranium Project in Quebec, Canada

International Consolidated Uranium Inc. (TSX-V: CUR) is pleased... READ MORE

May 11, 2021

Endeavour Silver Reports Financial Results for the First Quarter 2021

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) released its finan... READ MORE

May 11, 2021

Copyright 2021 The Prospector News