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Atikwa Resources Announces Reorganization, $21.5M Recapitalization Transaction

Atikwa Resources Inc. (ATK.V) has agreed in principle to enter into a definitive reorganization and investment agreement with WCOG Grand Empire Inc., which will provide for two separate non-brokered private placements of $3.5 million and $18 million 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.

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.

Upon the completion of the private placements, the company plans to implement a strategy of acquiring, exploiting and exploring while focusing on large resource-in-place assets.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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