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| Home : Atikwa Resources Inc. Announces Reorganization and $21.5 Million Recapitalization Transaction |
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Mar 07
2013 |
Atikwa Resources Inc. Announces Reorganization and $21.5 Million Recapitalization Transaction |
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CALGARY, ALBERTA--(Marketwire - March 6, 2013) - Atikwa Resources Inc. ("Atikwa" or the "Company") (TSX VENTURE:ATK) is pleased to announce that it has agreed in principle to enter into a definitive reorganization and investment agreement (the "Agreement") with WCOG Grand Empire Inc. ("WGE"), which will provide for two separate non-brokered private placements of $3.5 million and $18 million (the "Private Placements") in association with a reorganization of the Company. Subject to the completion of the Agreement on or about March 11, 2013, it is anticipated that the first Private Placement will be completed in two closings, on March 18th and April 1st. The second Private Placement will be subject to shareholder approval at the previously announced special meeting of Atikwa shareholders, currently scheduled for April 24, 2013 (the "Special Meeting"). Provided the Company's shareholders approve the second Private Placement and such offering is successfully completed, the terms of the Agreement will provide for a restructuring of Atikwa's management team and board of directors. It is also anticipated that the Company will seek shareholder approval at the Special Meeting for a consolidation of Atikwa's common shares and a change of name of the Company. The completion of the Private Placements and reorganization of the Company are subject to a number of conditions and approvals including, but not limited to, the negotiation and execution of the Agreement and the approval of the TSX Venture Exchange ("TSXV"). |
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| Source:http://www.marketwire.com/mw/release.do?id=1765116&sourceType=3 |
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