Atikwa Resources Inc. Clarifies Previous Update, Possible Receiver and Resumption to Trade
19 December 2013 - 3:03AM
Marketwired
Atikwa Resources Inc. Clarifies Previous Update, Possible Receiver
and Resumption to Trade
CALGARY, ALBERTA--(Marketwired - Dec 18, 2013) - Atikwa
Resources Inc. ("Atikwa" or the "Company") (TSX-VENTURE:ATK) is
providing a further update to the company's news release as of Dec
17, 2013 we wish to provide additional information on the loan with
Century Services. This was a loan that was put in place on February
28, 2012 by the previous Board for $3 million dollars. The secured
lender, who has security over all of Atikwa's assets, has set a
court date for Thursday, December 19, 2013 at noon to make an
application to appoint a Receiver. Previous discussions with
Century were to work with the new board, but due to unforeseen
circumstances, they have chosen to demand the loan. The Company has
kept current with the interest payments and has paid back $600,000
in principal payments over the past year. We are actively seeking
and working on solutions to replace the Century's current note of
$2.4 million prior to Thursday's deadline and are having ongoing
discussions with several groups to complete this, and we are open
to discussions with other interested parties.
If a Receiver is
appointed on Thursday, the shares in the trading of the company
will be suspended by the Exchange.
The Company's
affairs have now been clarified and trading will resume at the open
of trading today, Wednesday December 18, 2013.
We Seek Safe
Harbour.
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.
Atikwa Resources Inc.Andrew WattsPresident &
CEO403-263-1845
(TSXV:ATK)
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