Atikwa Resources Inc.

Atikwa Resources Inc.

August 26, 2013 20:05 ET

Atikwa Seeks Shareholder Support in Proxy Vote

CALGARY, ALBERTA--(Marketwired - Aug. 26, 2013) - Atikwa Resources Inc. (TSX VENTURE:ATK) ("Atikwa" or the "Company") would like to remind shareholders that is it extremely important to cast their proxy vote to ensure that Management's proposal is passed at the AGM on Friday, August 30th. Atikwa is extremely grateful to those shareholders who have already changed their proxy vote (from the GREEN proxy circulated by the Vancouver Group) to the Management proxy. If you have not yet voted, you are strongly encouraged to do so now. If you have voted the GREEN proxy (either by mail, phone or online) it is not too late to change your vote.

Atikwa Management Proposal… Vancouver Group Proposal…
A Business combination with Hansar Energy Corp. No Plan
Board of Directors Extensive Oil and Gas and Public Company experience with proven track record of creating shareholder value No Oil and Gas or Public Company experience
Management Team Experienced team of Oil and Gas Professionals who have grown and sold assets worth over $100 MM No Oil and Gas experience - their team plans to manage the business from a home office in White Rock, BC, resorting to outside consultants when necessary
Asset Value Hansar transaction will bring $10.35 MM in 2P reserves which adds to the existing Atikwa Reserve Value No Assets to be added - no plan on creating additional value, wait (and pray) for a buy out from a credible company
Additional Capital for Drilling New team is firming up a financing for up to $10MM to continue development drilling plan No funding (debt or equity) arranged yet
Secured Debt Arrangements are being made to continue the current debt facility until replaced or retired No arrangements in place to continue or replace the loan which becomes due under its terms if nominees of Vancouver Group are elected
Go Forward Plan Combining assets, bring capital to continue to develop the asset base, retire debt obligations and trade payables Retrench to passive management from Vancouver -- surrender operatorship of core asset to Joint Venture Partner who is locked in a major dispute with Atikwa

Management would like to strongly caution all shareholders NOT to vote your shares in support of the directors proposed by the Vancouver group. If you have voted in favour of the nominees of the dissidents, you can change your vote now. We would also encourage all shareholders to make a special effort to vote today in favour of the new slate of directors proposed by management.

This is a critical vote which will dramatically influence the future of this Company. To vote please visit or call English 1-800-474-7493 or French 1-800-474-7501.

To be certain that your vote counts at the meeting, you need to get your vote in prior to 11:59 pm EDT Tuesday Aug 27th.

Do not Delay - cast your vote today…

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.
    Sean Kehoe
    President and CEO