Angkor Resources Announces Conversion Commitments for 100% of its Outstanding Convertible Notes
GRANDE PRAIRIE, June 13, 2022 - Angkor Resources Corp. (TSXV:ANK) and (OTC:ANKOF) ("Angkor" or "the Company") announces that it has received commitments for conversion to equity of 100% aggregate principal of outstanding convertible notes (the "Notes") into common stock of the Company. Pursuant to the Conversion conditions the Company will Issue, in aggregate 4,200,000 common shares at $0.25 per share.
Delayne Weeks, CEO said: "These commitments for conversion of $1,050,000 in our notes payable helps clean up our balance sheet and gives us easier access and more flexibility to capital to expand our projects over the next 12 months. We consider this to be an important component to advancing Angkor as it moves forward. "
As previously disclosed, insider participation in the notes is in the amount of $500,000 and will equal a total of 2,000,000 common shares.
ABOUT ANGKOR RESOURCES CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia with several mineral licenses in NE quadrant of the country. The company also advances final steps of the Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: da@angkorgold.ca Website: http://www.angkorresources.ca
Please follow @AngkorResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.
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.