Atikwa Resources Inc.

Atikwa Resources Inc.

December 18, 2013 11:03 ET

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.

Contact Information

  • Atikwa Resources Inc.
    Andrew Watts
    President & CEO