Ms. Delayne
Weeks reports
ANGKOR ANNOUNCES PRIVATE PLACEMENT
Angkor
Resources
Corp.
intends to complete a non-brokered private placement of up to 3,571,428 units at seven cents per unit for gross proceeds of up to $250,000. Each unit comprises one common share in the capital of the company and one transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at 10 cents for three years from the date of issuance.
The company intends to use the net proceeds from the offering for general working capital purposes.
The company expects that the participation by directors and/or officers in the offering will be exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units to be paid by the insiders will exceed 25 per cent of the company's market capitalization.
The completion of the offering is subject to, among other things, acceptance of the TSX Venture Exchange, and all securities issued pursuant to the offering will be subject to a four-month hold period from the date of closing.
About
Angkor Resources Corp.
Angkor is a public company, listed on the TSX Venture Exchange, and is a leading
resource
optimizer
in
Cambodia
working
toward
mineral
and
energy
solutions
across
the country.
The
company
holds
multiple
mineral
exploration
licences
in
the
country,
and
in
late
2022, its subsidiary, EnerCam Resources, was granted an onshore oil and gas licence of 7,300 square kilometres
in
the
southwest
quadrant
of
Cambodia.
Angkor's
carbon
capture
and
gas
conservation project in Saskatchewan, Canada, proves its long-term commitment to environmental and social projects across expanding jurisdictions.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.