January 13, 2014 22:11 ET
CALGARY, ALBERTA--(Marketwired - Jan. 13, 2014) - Atikwa Resources Inc. (the "Company") (TSX VENTURE:ATK) The Company announces the courts have granted an Adjournment until January 31, 2014 for the Company to find replacement financing for their $2.5million secured debt facility with Century Services, who had brought forward a Receivership Application.
The Company is actively working with several groups on alternative financing options and is open to other untested parties.
Atikwa's core asset is 10.5 quarter sections in the Pierson field in SW Manitoba with approximately 40 barrels a day of light sweet crude production and approximately 40-50 drilling locations.
The Company also announces that Mckenzie Loree has tendered his resignation as a director which had been accepted.
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. 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.
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
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