Poplar Creek Resources Inc.
TSX VENTURE : PCK

February 24, 2014 09:45 ET

Poplar Creek Resources Inc. Update

CALGARY, ALBERTA--(Marketwired - Feb. 24, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Poplar Creek Resources Inc. ("Poplar" or the "Company") (TSX VENTURE:PCK), "PCK" on the TSX Venture Exchange, announces that following the disposition of the Twoco complex assets effective October 1st, 2013, the Company has had no cash flow and proceeds from the sale have been expended on the considerable costs associated with being a publically reporting company. The board of directors has been actively pursuing numerous opportunities to find and fund an ongoing business plan through examination of potential mergers or disposition of assets. The continuing viability of the Company is dependent on effecting a reverse take-over or injection of capital and the state of the equity markets does not appear to be conducive to the financing of micro-sizes resource companies like Poplar. To fund the operations and compliance, the directors have personally advanced funds and certain suppliers have continued to provide services. The board will continue to actively examine potential reverse takeover opportunities and other strategic alternatives but currently will not personally advance further funds.

The Company will make further announcements as events determine.

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 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. 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) 875-1821

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