American Creek R - ACKRF STOCK NEWS

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has announced a non-brokered private placement offering to raise up to $800,000 through the sale of up to 8,888,889 units at $0.09 per unit.

Each unit consists of one common share and one purchase warrant, with each warrant allowing holders to purchase an additional common share at $0.14 within 24 months of the offering's closing date. The proceeds will be used for general working capital.

The company may pay finder's fees and expects insider participation in the offering. The securities will have a four-month and one-day hold period from issuance. The offering requires TSX Venture Exchange approval and is exempt from formal valuation and minority shareholder approval requirements under MI 61-101.

American Creek Resources (ACKRF) has announced positive initial metallurgical test results from the high-grade gold Supercell-One Complex (SC-1) at the Treaty Creek Project in British Columbia's Golden Triangle. The tests focused on SC-1C and SC-1D structures, achieving flotation recoveries of up to 85.1% gold and producing a concentrate grade of 33.6 g/t gold.

The SC-1 Complex, discovered during the 2024 drill campaign, consists of four breccia structures (SC-1A to SC-1D). The SC-1C structure spans up to 800 meters in length by 400 meters in depth. Recent testing of the Lower CS-600 sub-domain showed flotation recoveries of up to 88.1% copper, 63.8% gold, and 51.3% silver, producing a concentrate exceeding 29% copper with gold and silver grades of 33 g/t and 96 g/t respectively.

The metallurgical program, conducted by SGS Vancouver, demonstrated that flotation is the most economical method for recovering gold and copper mineralization, though the cleaner concentrate contains some deleterious elements including arsenic and antimony.

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has announced the termination of its Arrangement Agreement with Cunningham Mining (CML), which was originally dated September 5, 2024, and subsequently amended on December 30, 2024, and January 31, 2025.

As part of the termination agreement, both parties have provided mutual releases. CML has agreed to compensate American Creek with CAD$150,000 worth of NGTG$$ tokens, which will be transferred to American Creek's wallet and released after a 9-month period.

The companies have agreed to explore an alternative agreement that could potentially combine the gold RWA token sector with the gold exploration sector, aiming to add significant value for shareholders. American Creek will provide updates when material information becomes available.

American Creek Resources (TSXV: AMK, OTCQB: ACKRF) has received a Notice of Termination from Cunningham Mining regarding their Arrangement Agreement, which American Creek deems invalid. The dispute centers around allegations that American Creek failed to properly disclose information about Seabridge Gold's revised permit for potential twin tunnels through the Treaty Creek Property.

Cunningham Mining claims this constitutes a 'material adverse effect,' allowing termination. However, American Creek maintains that it fully disclosed Seabridge's position in its Disclosure Statement and subsequent communications. The company argues that all parties were aware of Seabridge's tunnel project plans before executing the Arrangement Agreement and its amendments.

American Creek asserts the Arrangement Agreement remains valid and awaits the $150,000 payment owed by Cunningham Mining under the 2nd Amendment Agreement.

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has announced a second amendment to its arrangement agreement with Cunningham Mining. The amendment extends the Outside Date from January 31, 2025, to March 15, 2025, contingent on Cunningham paying CAD$150,000 by February 20, 2025. A further extension to April 30, 2025, is possible with an additional US$2,000,000 payment by March 15, 2025.

The extension fees, along with the previous $300,000 signing fee, will fund arrangement expenses and working capital. During this period, American Creek can continue normal operations and consider superior proposals without break fees. CEO Darren Blaney confirmed shareholders' strong support for the transaction at the recent AGM.

American Creek Resources (TSXV: AMK) announced that its JV partner Tudor Gold has initiated permitting for approximately 3,000 meters of underground development at the Treaty Creek Project in British Columbia's Golden Triangle. The exploration ramp will target the Supercell One Zone (SC-1) with infill and expansion drilling.

The underground infrastructure is expected to reduce drilling costs and time while potentially serving as air ventilation support for future mining operations. The project plans include a 25,000-meter year-round drilling program focusing on the SC-1 Zone, which remains open along strike and plunge. To date, over 10,000 meters of drilling have targeted this zone.

The development follows encouraging 2024 drilling results, with the zone showing similarities to Newmont's Brucejack gold deposit. The current Mineral Reserve Estimate stands at 27.9 million ounces of AuEq averaging 1.19 g/t AuEq, though SC-1 results are not yet included in this estimate.

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has announced an amendment to its arrangement agreement with Cunningham Mining. The key changes include extending the Outside Date from December 30, 2024, to January 31, 2025, and removing the termination payment obligation previously required if American Creek accepted a superior proposal. The original arrangement agreement, dated September 5, 2024, involves Cunningham Mining acquiring all issued and outstanding common shares of American Creek through a statutory plan of arrangement under British Columbia law.

American Creek Resources announces overwhelming shareholder approval for its plan of arrangement with Cunningham Mining. The special resolution was approved by 99.3% of shareholders and 99.28% of minority shareholders at the November 27, 2024 meeting, where 65.24% of outstanding shares were represented. The company also received final court approval from the Supreme Court of British Columbia on November 29, 2024. The arrangement, once all conditions are met, will result in Cunningham Mining acquiring all issued and outstanding common shares of American Creek.

American Creek Resources announces the mailing of meeting materials for its annual general and special meeting on November 27, 2024, where shareholders will vote on a plan of arrangement with Cunningham Mining. Under the arrangement, Cunningham Mining will acquire all outstanding American Creek shares at $0.43 per share. The company has received an interim order from the Supreme Court of British Columbia for the arrangement. The board of directors unanimously recommends shareholders vote FOR the arrangement. The meeting will be held in Vancouver, with October 23, 2024, set as the record date for voting eligibility.