SOURCE: Alaska Pacific Energy Corp.

January 21, 2011 06:00 ET

Alaska Pacific Shareholder Update

CARLSBAD CA--(Marketwire - January 21, 2011) - ALASKA PACIFIC ENERGY "APEC" (OTCBB: ASKEE) is pleased to announce that APEC has now completed accounting for the previous quarter internally and is preparing to present this material to the company's auditors shortly. Most investors are aware that APEC has been assigned an "E" at the end of its symbol which reflects its late filing for the quarter. This is the first time that such an event has happened to the company, but management is confident that once filed it will meet with the approval of regulators. This we hope, will in no way reflect poorly on all of the recent progress that the company has made and we hope that investors continue to be supportive and we look forward to continuing on with all of our business efforts. 

The company is also making progress with its website and will soon be adding more information regarding the Tanzanian gold project announced recently. All efforts will be made to keep investors up-to-date on its progress as we work toward a successful operation. Management has also recognized the need to provide investors with more technical information as many investors are quite well versed with regards to mining; APEC plans to add a more detailed investors section to include easy downloads.

Management is also focused on financing and is developing a strategy that will offer new investors the opportunity to participate in all APEC projects, while at the same time continuing to listen to current investors. The company insists that any financing approach be in the best interests of all shareholders. This will include the use of traditional forms of debt financing to limit dilution as well as entering into joint ventures with established and stable potential partners. Many mining companies world-wide have found great success through joint ventures as they tend to reduce risk and the right partner can also bring much needed expertise to specific areas.

The company looks forward to entering into this new business phase and APEC management is grateful for the support of its shareholders.

Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information