Atikwa Resources Inc. V.ATK

Atikwa expects election of Hansar director nominees

[animatedshane]

ATIKWA MANAGEMENT CONFIRMS INTENT TO STEP ASIDE ON SUCCESSFUL OUTCOME OF SHAREHOLDER MEETING

With the successful election of management's proposed slate of directors at Atikwa Resources Inc.'s shareholder meeting on Aug. 30, Atikwa's current management team, including Sean Kehoe, president and chief executive officer, will be stepping aside for the current management team of Hansar Energy Corp. The new management team will continue the focus on the development of the company's assets, including the Spearfish play. The new management team has also made progress on a combination of debt and equity financing, which would provide the financing for a 12-well drilling program in the new team's first year of managing Atikwa. Once the Hansar management team is in place, it will work with all of the current unsecured payables on a go-forward strategy as the Hansar team wishes to continue working with the service providers Atikwa has worked with previously. Hansar is working with Atikwa's secured lender with a view to keeping its loan in place for a short period while the new debt and equity financing is completed.

[Drillin_is_Thrillin]

Basically, they felt it necessary to issue a release promising that the current management would not be part of the Company going forward.   All confidence had been lost and they now acknowledge it.   The problem remains that it was this management that did the deal with Hansar and it is not in the best interest of shareholders.     

[LAMBO]

what are the chances of this new group winnng the vote?  its just like ROG.v where the biggest shareholders got together and said enough is enough.. we need a change!!