| American Creek Commences Judgement Enforcement Against Teuton Resources Corp.-Litigation Update | |
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CARDSTON, ALBERTA--(Marketwired - Jan 26, 2015) - American Creek Resources Ltd. (TSX VENTURE:AMK) (the "Corporation") wishes to provide a further update in the litigation with Teuton Resources Corp. ("Teuton") over the Treaty Creek property, located in the "golden triangle" of northwest British Columbia. Teuton has notified the Corporation that on January 30, 2015 it will apply to the court for a stay of the enforcement. SPECIAL COSTS HEARING A hearing before the Registrar of the British Columbia Supreme Court to determine the amount of special costs owed by Teuton to the Corporation will be held March 31 and April 1, 2015. The Corporation expects the amount awarded to be significant. Assets of Teuton seized by the Corporation may be liquidated to satisfy the special costs judgment as well. APPEAL HEARING As previously reported, the Corporation was successful at trial in the litigation with Teuton over the Treaty Creek property and was awarded a 51% interest in the property. Teuton has appealed the Court's decision. The British Columbia Court of Appeal will hear the appeal on March 9-11, 2015. The Corporation expects to prevail at the Court of Appeal. As also previously reported, Holmes & King, Teuton's third law firm in this matter, has withdrawn as Teuton's legal counsel. As far as is known to the Corporation, Teuton does not presently have legal counsel representing it in the appeal. The Corporation will continue to provide litigation updates as this matter progresses. American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada. Information relating to the Corporation is available on its website at www.americancreek.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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American Creek Resources Ltd
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EXPLORATION STAGE |
CODE : AMK.V |
ISIN : CA0252881010 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
American Creek is a silver and gold exploration company based in Canada. American Creek holds various exploration projects in Canada. Its main exploration properties are ELECTRUM, TIDE, IRONMIST and TREATY CREEK in Canada. American Creek is listed in Canada. Its market capitalisation is CA$ 64.3 millions as of today (US$ 47.4 millions, € 42.6 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.61, and its lowest recent point on May 31, 2019 at CA$ 0.03. American Creek has 229 530 000 shares outstanding. |