ANKOF - Angkor Announces Private Placement
(TheNewswire)
Grande Prairie, AB - TheNewswire - September13, 2023 - Angkor Resources Corp. (TSXV:ANK ) and ( OTC:ANKUR) (“Angkor” or “theCompany”) announces it intends to complete anon-brokered private placement of up to 3,571,428 units (each a"Unit") at CAD$0.07 per Unit for gross proceeds of up toCAD$250,000 (the "Offering"). Each Unit comprised of one (1)common share in the capital of the Company (each a "CommonShare") and one transferable Common Share purchase warrant(each a "Warrant"). Each Warrant entitles the holder toacquire one (1) Common Share at CAD$0.10 for three (3) years from thedate of issuance.
The Company intends to use the net proceeds from theOffering for general working capital purposes.
The Company expects that the participation by directorsand/or officers (collectively the “ Insiders ”) in theOffering will be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101 pursuant to sections5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that neither thefair market value of the Units subscribed for by the Insiders, nor theconsideration for the Units to be paid by the Insiders, will exceed25% of the Company’s market capitalization.
The completion of the Offering is subject to, amongother things, acceptance of the TSX Venture Exchange (the“ TSXV ”), and all securities issued pursuant to the Offering willbe subject to a four month hold period from the date ofClosing.
ABOUT ANGKOR RESOURCES CORPORATION:
Angkor Resources Corp. is a public company, listed onthe TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across the country. The company holds multiple mineral exploration licenses in the country and in late 2022, its subsidiary, EnerCamResources, was granted an onshore oil and gas license of 7300 squarekilometers in the southwest quadrant of Cambodia. Angkor’s carbon capture and gas conservation project inSaskatchewan, Canada proves its long-term commitment to Environmentaland Social projects across expanding jurisdictions.
Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkorresources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on , , , Instagram and .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Certain information set forth in this news release maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. These forward-looking statements aresubject to numerous risks and uncertainties, certain of which arebeyond the control of the Company, including, but not limited to thepotential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact ofgeneral economic conditions, industry conditions, dependence uponregulatory approvals, uncertainty of sample results, timing andresults of future exploration, and the availability offinancing. Readers are cautioned that theassumptions used in the preparation of such information,although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed onforward-looking statements.
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