| American Creek Resources-Teuton Resources-Treaty Creek Litigation Update | |
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CARDSTON, ALBERTA--(Marketwired - Mar 10, 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 adjacent to Seabridge Gold's KSM property. 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 appealed the Court's decision. The British Columbia Court of Appeal hearing commenced March 9, 2015 and is expected to conclude March 11, 2015. Teuton is presently without legal representation at the appeal hearing. The Corporation expects to prevail at the Court of Appeal. The Corporation will continue to provide litigation updates as this matter progresses. The Corporation also reports that it has granted a total of 5,520,000 incentive options to certain Directors, Officers, Advisors and Contractors of the Corporation under the Corporation's incentive stock option plan. The options were granted at a deemed price of $0.10 and are exerciseable until March 9, 2025. American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada. Information relating to the Corporation is available on its website at www.americancreek.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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American Creek Resources Ltd
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EXPLORATION STAGE |
CODE : AMK.V |
ISIN : CA0252881010 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
American Creek is a silver and gold exploration company based in Canada. American Creek holds various exploration projects in Canada. Its main exploration properties are TIDE, ELECTRUM, IRONMIST and TREATY CREEK in Canada. American Creek is listed in Canada. Its market capitalisation is CA$ 33.3 millions as of today (US$ 24.2 millions, € 22.7 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. |