Atikwa Resources Inc. Provides Court Proceedings and Operational Update
23 December 2013 - 8:54AM
Marketwired
Atikwa Resources Inc. Provides Court Proceedings and Operational
Update
CALGARY, ALBERTA--(Marketwired - Dec 22, 2013) - Atikwa
Resources Inc. (the "Company") (TSX-VENTURE:ATK) announces that the
courts have adjourned the Receivership and Adjournment Applications
decision to the week of January 6th, 2014 at a time to be
determined. The Company has received a term sheet to replace the
current debt with Century Services and is also actively seeking
others.
The Company has renewed the partnership with their farmout
partner Antler River Resources (Antler) and both parties have
mutually agreed to terminate the lawsuits between them. The Company
has also engaged both Antler and their sister company Melita
Resources to take over the operations of the Manitoba assets. They
are currently working on improving the production on several wells,
which will assist with the Company's cash flow to fund the
company's ongoing operations.
The Board and management are determined and unified in their
efforts to attempt to position the Company for future success. They
believe in the upside of the Spearfish, MB assets and are working
diligently to return the Company to profitability and increased
shareholder value. They would like to thank the shareholders for
their recent support for the new Board members.
We Seek Safe Harbour.
The reader is advised that some of the information herein
may constitute forward-looking statements within the meaning
assigned by National Instruments 51-102 and other relevant
securities legislation.
Forward-looking information is not a guarantee of future
performance and involves a number of risks and uncertainties. Many
factors could cause the Company's actual results, performance or
achievements, or future events or developments, to differ
materially from those expressed or implied by the forward-looking
information. Readers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date
hereof. The Company does not undertake any obligation to release
publicly any revisions to forward-looking information contained
herein to reflect events or circumstances that occur after the date
hereof or to reflect the occurrence of unanticipated events, except
as may be required under applicable securities laws.
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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