Atikwa Resources Inc. ss previously announced in September 2012, the board of directors of Atikwa retained CB Securities to assist the Company in identifying and evaluating a number of strategic alternatives available to the Company to enhance shareholder value.
As previously reported in December 2012, the Company has received a number of proposals and non-binding indications of interest, from which they have selected the most attractive options to pursue. In light of recent trading activity the Company would like to confirm that it is not aware of any particular variable that might have changed in relation to that process. The Company continues to actively negotiate with a number of parties that have proposed a variety of potential transactions ranging from the acquisition of a single asset, an outright bid for the full corporate entity, a merger with another entity or a significant recapitalization of the existing Company.
The Company has not entered into a definitive agreement in connection with any of these proposals, however it continues to actively negotiate with a view to being able to complete a transaction with one of these entities shortly. We remain committed to executing our current strategy and are confident that we are taking the right steps to further strengthen the Company”s balance sheet and participate in the present and potential future value of our portfolio of assets.
This news release contains forward‐looking statements relating to the Company”s plans and other aspects of the Company”s anticipated future operations, strategies, financial and operating results and business opportunities. Forward‐looking statements typically use words such as “anticipate”, “believe”, “project”, “expect”, “plan”, “intent” or similar words suggesting future outcomes, statements that actions, events or conditions “may”, “would”, “could” or “will” be taken or occur in the future, or consists of statements regarding estimates of future production, operating costs or other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance. Statements regarding reserves are also forward‐looking statements, as they reflect estimates as to the expectation that the deposits can be economically exploited in the future. Although the Company believes that the expectations represented in such forward‐looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward‐looking statements and you should not unduly rely on forward‐looking statements. The forward‐looking statements contained in this news release are made as the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A conversion ratio for gas of 6 mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.