Ms. Delayne Weeks reports
ANGKOR RESOURCES ANNOUNCES PRIVATE PLACEMENT
Angkor Resources Corp. has arranged a private placement of up to $750,000, to consist of the sale of up to 4,285,714 units at a price of 17.5 cents per unit. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant to entitle the holder to purchase one common share at an exercise price of 35 cents for a period of 24 months following the closing of the private placement.
All of the shares issued pursuant to this private placement, including any shares that may be issued pursuant to the exercise of the warrants, will be subject to a hold period in Canada of four months plus one day from closing. The proceeds from this private placement, which is subject to TSX Venture Exchange acceptance, will be used to finance exploration activities on the company's exploration projects and for general working capital purposes.
Insiders may participate in the private placement and finders' fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies.
About Angkor Resources Corp.
Angkor Resources 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 Canada and Cambodia. Angkor's carbon capture and gas conservation project in Saskatchewan, Canada, is part of its long-term commitment to environmental and social projects and cleaner energy solutions across expanding jurisdictions.
The company's mineral subsidiary, Angkor Gold Corp., in Cambodia holds three mineral exploration licences in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas licence of 3729 square kilometres in the southwest quadrant of Cambodia called Block VIII. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Sask.
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