American Creek (TSX.V: AMK)
The Board of Directors has approved the repricing of a total of 2,400,000 stock options of the Company from $0.335 to $0.18 per common share, and a total of 6,300,000 stock options of the Company from $0.32 to $0.18 per common share, subject to the approval of the TSXV.
|American Creek||TSX.v : AMK|
|Market cap||C$91 m @ 21.5c|
|Location||British Columbia, Canada|
I don’t really like to see options being repriced, as clearly management haven’t achieved what they expected to share price wise, but it does at least bring money into the company by moving their price down to a level where they can be exercised.
If they didn’t do it they would have to raise money in the market anyway, so no additional dilution is created as such.
The recent takeout of Pretium’s Brucejack mine (HERE) focuses attention on the Treaty Creek properties now, and one wonders whether covetous eyes will look to take out these projects due to their close proximity?
AMERICAN CREEK RESOURCES ANNOUNCES INCENTIVE OPTIONS REPRICING
Cardston, Alberta–(Newsfile Corp. – November 9, 2021) – American Creek Resources Ltd. (TSXV: AMK)(“the Corporation”) or (“American Creek”) Board of Directors has approved the repricing of a total of 2,400,000 stock options of the Company from $0.335 to $0.18 per common share, and a total of 6,300,000 stock options of the Company from $0.32 to $0.18 per common share (collectively, the “Options”).
The repricing of the Options is subject to the approval of the TSXV. The repricing of the 8,250,000 stock options held by insiders of the Company is also subject to the approval of disinterested shareholders of the Company at the Company’s next annual general meeting of shareholders, in accordance with the policies of the TSXV. Details regarding the repricing of the Options will be further disclosed in the Company’s information circular for its next annual general meeting.
About American Creek
American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.
The Corporation has an interest in the Treaty Creek property, a joint venture project with Tudor Gold/Walter Storm located in BC’s prolific “Golden Triangle”.
The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.
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