American Creek amends Cunningham Mining deal: extends deadline and removes break fee in strategic update
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) announced an amendment to its arrangement agreement with… cunningham mining. Key changes include extending the external date from December 30, 2024 to January 31, 2025and removing the termination payment obligation that was previously required if American Creek accepted a higher offer. The original arrangement agreement, dated September 5, 2024, provides for Cunningham Mining to acquire all of the issued and outstanding common shares of American Creek through a statutory plan of arrangement under British Columbia law.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) announced an amendment to its rig agreement cunningham mining. The major amendment includes extending tracking data until December 30, 2024a January 31, 2025canceling the prepayment obligation is best if American Creek accepts a better offer. The original agreement, dating back to September 5, 2024, previously saw Cunningham Mining acquire all of the regular business and spread of American Creek, a second statutory piano under British Columbia law.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) announced its disposition recommendation cunningham mining. Major changes include an extension to Fecha Límite on December 30, 2024 31 de Enero de 2025and eliminate previously required severance payment obligations if American Creek accepts a better offer. The original news story, issued on September 5, 2024, indicates that Cunningham Mining has acquired all of the regular progress issued and deployed at American Creek through the government’s disposition plan behind British Columbia.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) or cunningham miningThat’s why this is what’s happening now. Opening dates are in 2024, 12 and 30 years 2025 1 year 31 yearsIn New York City, American Creek is home to the largest city in the world. certainly. 2024 August 9 5 years working for Cunningham Mining Gold prospecting company American Creek is one of the best places in the world and fun living.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) announced an amendment to its disposition agreement cunningham mining. Key modifications include extending the flight schedule to December 30, 2024 January 31, 2025In addition to canceling the payment obligation in the event of flexibility, a prior order is required if American Creek accepts a higher offer. The original arrangement agreement, dated September 5, 2024, was before Cunningham Mining obtained all normal emissions and trading procedures at American Creek under the legal disposition plan under Colombian law. Britannic.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has alternative arrangements with cunningham mining bekannt gegeben. Basic Prosperity will return on the weekend of December 30, 2024 31. January 2025 Sowie die Aufhebung der zuvor erforderlichen Abfindungsverpflichtung, American Creek Falls is located in überlegenes Angebot annimmt. The original arrangement was issued on September 5, 2024, and Cunningham Mining will be supported and approved by American Creek under a comprehensive British Columbian right of arrangement arrangement.
positive
- Eliminating the termination payment obligation provides more flexibility for premium offerings
- Extending the completion deadline allows more time to finalize the arrangement
negative
- Delay in completion of the originally planned acquisition timeline
- Extending the period of uncertainty for shareholders
CARDSTON, ALBERTA–(Newsfile Corp. – December 31, 2024)– American Creek Resources Limited (TSXV: AMK) (OTCQB: ACKRF) (the “a company“or”American Creek“) announces its entry into the amendment agreement (“”)Amendment Agreement“) with Cunningham Mining Ltd. (“the buyer“) to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024 (“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 (“ranking“) under Division 5 of Part 9 of Commercial companies law (British Columbia).
Under the Amendment Agreement, the External Date (as defined in the Arrangement Agreement) has been extended from 30 December 2024 to 31 January 2025. In addition, the parties have agreed to remove the previously required termination payment obligation in the event that the Company accepts 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.
About the American Creek and the Creek Treaty Project
American Creek is a proud partner in the Treaty Creek Project, a joint venture with Tudor Gold Corp. Located in the affluent “Golden Triangle” of British Columbia.
American Creek carries a full load
The company also owns the Austruck-Bonanza gold property located near Kamloops, British Columbia.
ON BEHALF OF AMERICAN CREEK RESOURCES LTD.
“Darren Blaney“
Darren Blaney, President and CEO
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.
Cautionary statement regarding forward-looking statements
This press release may contain forward-looking statements (within the meaning of applicable securities laws) that reflect American Creek’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “expect”, “plan”, “anticipate”, “intend”, “plan”, “will”, “may”, “estimate” and others. of similar expressions. The forward-looking statements contained in this press release are based on a number of key expectations and assumptions made by American Creek as of the date hereof. Although the forward-looking statements contained in this press release are based on what American Creek’s management believes to be reasonable assumptions, American Creek cannot assure investors that actual results will be consistent with such statements.
The forward-looking statements contained in this press release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. There are several factors that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those identified in American Creek’s most recent management’s discussion and analysis, which is available on SEDAR+ at www.sedarplus.ca. Therefore, readers should not place undue reliance on any such forward-looking statements. These forward-looking statements are made as of the date of this press release, and except as expressly required by applicable law, American Creek undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new or future information. Events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235631
Instructions
What are the key changes in American Creek’s (ACKRF) amended arrangement with Cunningham Mining?
Key changes include extending the external date to 31 January 2025, and removing the termination payment obligation for outstanding proposals.
What is the new deadline for American Creek’s (ACKRF) arrangement with Cunningham Mining?
The new (out-of-date) deadline has been extended to January 31, 2025, from the previous date of December 30, 2024.
What happens if American Creek (ACKRF) receives a superior offer under the amended agreement?
Under the amended agreement, American Creek will no longer be required to pay a termination fee if it accepts a higher offer.
What is the scope of Cunningham Mining’s acquisition of American Creek (ACKRF)?
Cunningham Mining will acquire all of the issued and outstanding common shares of American Creek through a statutory plan of arrangement.
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