Poplar Creek Resources Inc.
TSX VENTURE : PCK

September 18, 2013 12:15 ET

Poplar Creek Resources Inc. Updates Activities

CALGARY, ALBERTA--(Marketwired - Sept. 18, 2013) -

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, is pleased to announce that it has signed an Offer to Purchase to sell its 3.5% interest in the Smoky Lake Asset Complex (Asset Complex) located in the general Smoky Lake Area of Northeastern Alberta. As previously advised the former operator of the Asset Complex was placed into receivership earlier this year and has been involved through the receiver in an asset sale process which concluded last month.

Subject to certain conditions including the execution by PCK and the Purchaser of a definitive Purchase and Sale agreement along with other documentation it is anticipated that closing of the sale will take place by September 30, 2013. Further details with respect to this transaction will be announced subsequent to closing.

In addition to the above PCK is evaluating a number of alternatives with respect to its future including corporate opportunities along with the possible evaluation of its oil sands lease located in Fort McMurray, Alberta and production opportunities with respect to its property located at Thorhild, Alberta.

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
    President & CFO
    (403) 616-5387