Angkor Subsidiary Raises USD $1,000,000 Through Direct Share Sales
22 10월 2019 - 9:25PM
Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor”
or “the Company”) CEO Stephen Burega is pleased to
announce that Angkor subsidiary EnerCam Exploration Ltd. has raised
USD $1,000,000 to date to advance Angkor’s new Cambodian oil and
gas license (Block VIII) through the private sale of shares of
EnerCam Resources Singapore Pty. Ltd. (“EnerCam Singapore”) to
various international accredited investors.
EnerCam Resources Singapore Pty. Ltd. is a
private company incorporated in Singapore by Angkor to hold 100%
ownership of the Cambodian oil and gas concession license. Prior to
the sale of shares, 100% of EnerCam Singapore was owned by Angkor’s
wholly-owned Canadian subsidiary, EnerCam Exploration Ltd. Neither
of the shares of EnerCam Resources Singapore Pty. Ltd. nor EnerCam
Exploration Ltd. are publicly traded.
Angkor’s subsidiary, EnerCam Exploration Ltd.,
has allocated up to 2.5 million of a total 10 million outstanding
shares of EnerCam Singapore for sale at a price of USD $1 per share
in order to finance early stage start-up costs and exploration of
the Block VIII oil and gas license. These shares are not available
to the public, and are subject to several terms and conditions
including limited buy-back rights, drag along, and anti-dilution
provisions. There is no associated offering of Angkor Resources
Corp. shares.
Funds will be used to pay licencing fees,
acquire existing seismic and geological data, field exploration and
general operating expenses.
ABOUT ANGKOR RESOURCES
CORP.
Angkor Resources Corp. is a public company,
listed on the TSX-Venture Exchange, and is a leading mineral
explorer in Cambodia with a large land package and an oil and gas
exploration license that covers 7,300 square kilometres of
Cambodia.
CONTACT:
Stephen Burega, CEOTelephone: +1 (647)
515-3734Email: sb@angkorgold.caWebsite: http://www.angkorgold.ca or
follow us on Twitter @AngkorGold.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain of the statements made and information
contained herein may constitute “forward-looking information.” In
particular references to the private placement and future work
programs or expectations on the quality or results of such work
programs are subject to risks associated with operations on the
property, exploration activity generally, equipment limitations and
availability, as well as other risks that we may not be currently
aware of. Accordingly, readers are advised not to place undue
reliance on forward-looking information. Except as required under
applicable securities legislation, the Company undertakes no
obligation to publicly update or revise forward-looking
information, whether as a result of new information, future events
or otherwise.
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