|By Marketwired .||
|December 22, 2013 04:55 PM EST||
CALGARY, ALBERTA -- (Marketwired) -- 12/22/13 -- Atikwa Resources Inc. (the "Company") (TSX VENTURE: ATK) announces that the courts have adjourned the Receivership and Adjournment Applications decision to the week of January 6th, 2014 at a time to be determined. The Company has received a term sheet to replace the current debt with Century Services and is also actively seeking others.
The Company has renewed the partnership with their farmout partner Antler River Resources (Antler) and both parties have mutually agreed to terminate the lawsuits between them. The Company has also engaged both Antler and their sister company Melita Resources to take over the operations of the Manitoba assets. They are currently working on improving the production on several wells, which will assist with the Company's cash flow to fund the company's ongoing operations.
The Board and management are determined and unified in their efforts to attempt to position the Company for future success. They believe in the upside of the Spearfish, MB assets and are working diligently to return the Company to profitability and increased shareholder value. They would like to thank the shareholders for their recent support for the new Board members.
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.
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.
President & CEO