Cunningham Mining to Acquire American Creek Resources

On September 5, 2024, American Creek Resources Ltd. finalized a definitive arrangement agreement with Cunningham Mining Ltd. This agreement stipulates that Cunningham Mining will acquire all issued and outstanding common shares of American Creek at a price of $0.43 per share, amounting to a total transaction value of approximately $207 million. The deal is structured as an all-cash transaction and is considered arm's-length. The acquisition has garnered significant support from American Creek's leadership, including its largest shareholder, Eric Sprott. Collectively, the directors and officers of American Creek, along with Sprott's company, hold about 15.5% of the outstanding shares and have entered into voting support agreements to favor the transaction. In addition to the financial aspects, the arrangement includes customary deal protection provisions, such as non-solicitation covenants and rights to match superior proposals. The transaction is expected to be funded through a token subscription facility that Cunningham Mining has secured. Upon completion, American Creek's shares will be delisted from the TSX Venture Exchange, and the company will cease to be a reporting issuer under Canadian securities laws. This acquisition is anticipated to positively impact Cunningham Mining's operations, particularly with the addition of the Treaty Creek Property, enhancing its overall portfolio.