RE:Concerned Shareholders of Atikwa Resources - VoteA FEW THINGS THE CONCERNED SHAREHOLDER GROUP WILL BE GETTING DONE!!
Support Our Effort to Bring Crucial Change to Atikwa
The Concerned Shareholders’ Nominees will take steps to:
act with honesty and integrity, making decisions that will be in the best interest of
shareholders;
seek to negotiate a better financing package to replace the Company’s current
unfavourable credit facility;
arrange to have all of the Company’s wells serviced in order to increase production;
move the Company’s offices out of their current location ($13,000 per month rent). The
Concerned Shareholders have identified a more modest office facility ($1,500 per month
rent) that will provide telephone switchboard services;
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cut general and administrative expenses to approximately $30,000 per month from
$125,000 per month by, among other things, (a) reducing the number of people on salary
to the company to better reflect the company’s current level of activities, and
(b) negotiating with Antler River Resources to reduce Atikwa’s responsibilities for
operations, as Antler River Resources already has significant expertise on staff that need
not be duplicated by Atikwa;
replace Sean Kehoe as CEO of the Company with a CEO who is answerable to the board
of directors and who will be focused on re-structuring the finances of the Company,
addressing the debt issues, maximizing on efficiencies, servicing existing wells and
increasing production;
engage experts in the oil and gas industry to consult with the Board on the strategic
direction of the Company, including, but not limited to, Dave Sprague, a geologist, and
Mark Winfield, an energy sector specialist, both with over 30 years of experience in the
oil and gas industry;
negotiate with our joint venture partners and move that partnership forward in a positive
way;
increase Atikwa’s production on existing wells, take immediate steps to resume payments
to Marquest and fulfill the Company’s obligations, and to take steps to determine why
two wells were staked in the spring of 2012 but were never drilled; This will entail
taking immediate steps to settle any outstanding disputes with Antler River, the joint
venture partner, and the other companies that have commenced legal action against
Atikwa;
determine the state of our lease agreements and recover Atikwa’s positions wherever
possible;
review all contracts that have been entered into by the existing Board and determine by
way of priority what actions need to be immediately taken, and what can reasonably be
deferred for later focus; and
increase production, thus making Atikwa a more attractive target for re*****ble
companies.
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Looking Ahead
The current management team has wasted too much time, made in our view bad decisions and
has not delivered on its promises. Do not give them any more opportunities to make costly
mistakes. Our four independent director nominees are squarely focused on maximizing
shareholder value. We encourage you to vote for the Concerned Shareholders’ Nominees and
look forward to your support.
Regards,
“James A. Garnett”
James A. Garnett
“Steven D. May”
Steven D. May
“John D. Chodzicki”
John D. Chodzicki
“Michael K. Stark”
Michael K. Stark
HOW TO CAST YOUR VOTE IN SUPPORT OF THE CONCERNED
SHAREHOLDERS
MAKE YOUR VOICE HEARD BY VOTING YOUR GREEN PROXY
VOTING INSTRUCTIONS
Non-Registered (Beneficial) Shareholders
If your common shares are held in a brokerage account or otherwise through an intermediary,
you are a "beneficial shareholder" and a Voting Instruction Form was mailed to you with this
package. Please refer to the Circular for additional information.
NON-REGISTERED HOLDERS SHOULD CAREFULLY FOLLOW THE
INSTRUCTIONS OF THEIR INTERMEDIARY (AS DEFINED IN THE CIRCULAR),
INCLUDING THOSE REGARDING WHEN AND WHERE THE PROXY (OR ANY
PROXY AUTHORIZATION FORM) IS TO BE DELIVERED.
Registered Shareholders
If your common shares are held in your own name, you are a "registered shareholder" and must
submit your proxy in the postage paid envelope in sufficient time to ensure your votes are
received by the offices of McMillan LLP, Attention: Linda Hogg, Suite 1500 - 1055 West Georgia
Street, PO Box 11117, Vancouver, British Columbia, V6E 4N7, Fax: 604.685.7084, Telephone:
604.691.7459, or Email: linda.hogg@mcmillan.ca, no later than 10:00 a.m. on August 26, 2013.
TIME IS OF THE ESSENCE – SUBMIT YOUR GREEN PROXY AS SOON AS
POSSIBLE
VOTE YOUR GREEN PROXY BY TELEPHONE OR VIA THE
INTERNET, FAX OR MAIL YOUR PROXY IN ORDER FOR IT TO BE
RECEIVED BY THE DEADLINE
PROXIES MUST BE RECEIVED NO LATER THAN AUGUST 26, 2013, AT
10:00 A.M. (VANCOUVER TIME)
PLEASE ENSURE THAT YOU SIGN AND DATE THE PROXY
QUESTIONS ON VOTING YOUR GREEN PROXY PLEASE CALL:
Steve May at 250.923.5346 or by email at: smmtrs@yahoo.com, or
Jim Garnett at 604.536.9125, by email at: atikwaturnaround@gmail.com, or by
fax at: 604.536.8603