Poplar Creek Resources Inc.

TSX VENTURE : PCK


March 18, 2014 16:37 ET

Poplar Creek Resources Inc. Shares for Debt, Revised

CALGARY, ALBERTA--(Marketwired - March 18, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

This news release replaces the News Release issued on March 10, 2014. Poplar Creek Resources Inc. ("Poplar" or the "Corporation") (TSX VENTURE:PCK) announces that, pursuant to TSXV Policy 4.3 - Shares for Debt and subject to TSXV approval, the Board of Directors has approved the conversion of certain debts owing by the Corporation to one arm's-length party which provided services in the amount of $33,450 and to Directors and officers who advanced $272,950 to sustain the operations of the Corporation, into common shares at a value of $0.05 each, for a total issuance of 6,128,000 common shares. The issuance price is set by the rules of the TSXV and is substantially in excess of the last trade of half a cent. The issued shares will be legended for a four month period. No warrants will be issued in relation to this matter. Following the conversion the Corporation will have a total of 44,919,261common shares outstanding. Such conversion does not create a new Control Person (as defined in the TSXV rules) and is not in relation to a proposed or anticipated transaction and is being completed to move debt to equity on the balance sheet of the Corporation to make it more attractive to effect a transaction in the future. Further information will be released as events warrant.

Forward-Looking Statements:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, which address future activities including the closing of the financing, exploration drilling and activity, and events or developments that the Corporation intends, plans, anticipates, believes, estimates or expects are forward-looking statements. Actual results may differ materially. Although the Corporation believes such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause results to differ materially from those in the forward-looking statements include, but are not limited to: market conditions and difficulties of raising funds in this economic environment, availability and costing of exploration contractors; exploration success; continued availability of capital, government regulations, laws and charges; environmental developments; exploitation economics; and generally the economic, market, financial and business conditions in the present volatile and uncertain economic period. Investors are cautioned that any statements are not guarantees of future performance and actual results or developments may differ materially from those stated in the forward-looking statements. The Corporation does not intend, and does not assume any obligation to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Poplar Creek. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

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

  • Poplar Creek Resources Inc.
    John Carruthers
    CEO
    (403) 452-5428
    (403) 875-1821

    Poplar Creek Resources Inc.
    Richard Edgar
    Richard Edgar
    (403) 616-5387