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ARTICLE · 30 MARCH 2016

American Creek Resources Ltd. v. Teuton Resources Corp., 2015 BCCA 170

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This British Columbia Court of Appeal decision involves the contractual interpretation of the phrase "exploration expenditures" within an option agreement.

CanadaEnergy and Natural Resources
McCarthy Tetrault LLP
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American Creek Resources Ltd. v. Teuton Resources Corp., 2015 BCCA 170

This British Columbia Court of Appeal decision involves the contractual interpretation of the phrase "exploration expenditures" within an option agreement.

Teuton and American Creek had an option agreement related to property in north-western B.C. Under the agreement, American Creek would earn a controlling interest in the property upon completion of certain conditions, including spending at least $5 million on "exploration expenditures". While American Creek said it spent over $6 million on exploration expenditures, Teuton challenged certain expenditures as not being reasonable, and refused to complete the transfer.

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