American Creek Resources Announces Amendment to Plan of Arrangement
American Creek Resources (TSX.V: AMK)
Has entered into an amendment agreement with Cunningham Mining Ltd. to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024.
Under the Amendment Agreement, the Outside Date has been extended from December 30, 2024 to January 31, 2025.
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| American Creek | TSX.V : AMK | |
| Stage | Exploration | |
| Metals | Gold | |
| Market cap | C$148 m @ 33c | |
| Location | Golden Triangle, B.C. | |
| Website | www.americancreek.com |
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Comment
I wonder if thi is a sign that the proposed deal is struggling for support?
I have always thought they would struggle to get this deal away, and it seems I may be right.
The only bright point is “the parties have agreed to remove the termination payment obligation previously required in the event the Company accepted a superior proposal,” which may mean there is a better offer somewhere, or could be a spoof to make us believe that of course!
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American Creek Resources Announces Amendment to Plan of Arrangement with Cunningham Mining
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Cardston, Alberta–(Newsfile Corp. – December 31, 2024) – American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) (the “Company” or “American Creek“) announces that it has entered into an amendment agreement (the “Amendment Agreement“) with Cunningham Mining Ltd. (the “Purchaser“) to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024 (the “Arrangement Agreement“) pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding common shares of American Creek by way of a statutory plan of arrangement (the “Arrangement“) under Division 5 of Part 9 of the Business Corporations Act (British Columbia).
Under the Amendment Agreement, the Outside Date (as defined in the Arrangement Agreement) has been extended from December 30, 2024 to January 31, 2025. In addition, the parties have agreed to remove the termination payment obligation previously required in the event the Company accepted a superior proposal.
A copy of the Amendment Agreement will be available on the Company’s profile on SEDAR+ at www.sedarplus.ca.
For further information on the Arrangement, please see the Company’s news releases dated September 6, 2024, October 2, 2024, October 31, 2024 and December 2, 2024, which are available on American Creek’s profile on SEDAR+ at www.sedarplus.ca.
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To read the full news release please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in American Creek
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