ATK

Atikwa Resources Inc. (TSX VENTURE:ATK) ("Atikwa" or the "Company") announces
that it has been granted an order by the Court of Queen's Bench of Alberta (the
"Order") extending the time in which it is permitted to hold its annual and
special meeting of shareholders (the "AGM") to a date no later than August 31,
2013. The Company had previously called its AGM for July 23, 2013 and has not
yet set a new date for the AGM. 


Atikwa sought the extension in part due to the impact of the state of emergency
in Calgary on its preparations for the meeting. In addition, Atikwa continues to
negotiate with interested parties in an effort to incorporate a strategic
transaction into the AGM meeting agenda. 


In order to allow Atikwa to be in a position to be able to raise capital under
the rules of the TSX Venture Exchange, the Company held a special meeting of
shareholders of Atikwa on June 14, 2013 (the "Special Meeting") to consider the
consolidation of Atikwa's common shares on a basis to be determined at a later
date by the board of directors of the Company. The proposed consolidation was
not approved by the requisite majority (being 2/3rds of the votes cast) of
Atikwa Shareholders at the Special Meeting. Management continues to diligently
work towards raising additional funds for operations as well as placing a
definitive transaction before shareholders at the Company's rescheduled AGM.


In the meantime, Atikwa intends to arrange a non-brokered private placement
financing (the "Private Placement") of up to 50,000,000 common shares at a price
of $0.01 per Common Share to raise gross proceeds of up to $500,000. The pricing
of the Private Placement is in reliance on the temporary relief measures
implemented by the TSX Venture Exchange (the "Exchange"). Accordingly the
Private Placement requires approval from the Exchange in accordance with the
temporary relief criteria set out in the Exchange Bulletin of April 12, 2013
with respect to the extension and modification of temporary relief from certain
pricing requirements (the "Temporary Relief Measures"). 


The Common Shares issued under the Private Placement will be subject to resale
restrictions under applicable securities legislation. Proceeds of the Private
Placement will be used for general corporate purposes. The Private Placement is
subject to a number of conditions including receipt of all necessary corporate
and regulatory approvals, including Exchange approval under the Temporary Relief
Measures. 


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. 


This news release contains forward-looking statements relating to the Company's
plans and other aspects of the Company's anticipated future operations,
strategies, financial and operating results and business opportunities. Factors
such as regulatory approvals and other related and external factors may affect
the forward-looking statements made in this news release. Forward-looking
statements typically use words such as "anticipate", "believe", "project",
"expect", "plan", "intent" or similar words suggesting future outcomes,
statements that actions, events or conditions "may", "would", "could" or "will"
be taken or occur in the future, or consists of statements regarding estimates
of future production, operating costs or other expectations, beliefs, plans,
objectives, assumptions or statements about future events or performance.
Statements regarding reserves are also forward-looking statements, as they
reflect estimates as to the expectation that the deposits can be economically
exploited in the future. Although the Company believes that the expectations
represented in such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. As a consequence,
actual results may differ materially from those anticipated in the
forward-looking statements and you should not unduly rely on forward-looking
statements. The forward-looking statements contained in this news release are
made as the date of this news release and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws. The term barrels of oil
equivalent ("boe") may be misleading, particularly if used in isolation. A
conversion ratio for gas of 6 mcf: 1 boe is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Atikwa Resources Inc.
Sean Kehoe
President and CEO
403-233-6092

(TSXV:ATK)
Historical Stock Chart
From Oct 2024 to Nov 2024

(TSXV:ATK)
Historical Stock Chart
From Nov 2023 to Nov 2024