Angkor Undertakes Non-Brokered Private Placement – $535,000.00
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ANGKOR UNDERTAKES NON-BROKERED PRIVATE
PLACEMENT – $535,000.00
GRANDE PRAIRIE, AB, (May 4, 2022): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the
Company”) CEO Delayne Weeks is pleased to announce the completion and closing of an over-subscribed non-
brokered private placement of Units for gross proceeds of $535,000.00 CAD. (the “Offering”)
Pursuant to the Offering the Company will issue a total of 4,458,333 units (a “Unit”) at a purchase price of C$0.12
per unit. Each Unit consists of one (1) common share (“Common Share”) of the Company and one Common
Share purchase warrant (“Warrant”). Each Warrant will entitle th e holder to acquire an additional Common
Share at an exercise price of $0.16 for a period of 24 months from the closing date of the Private Placement.
If during the exercise period of the warrants, but after the resale restrictions on the shares have expired, the
Company's shares trade at or above a weighted average trading price of $0.20 per share for 15 consecutive trading
days, the Company may accelerate the expiry time of the warrants by giving written notice to warrant holders that
the warrants will expire 30 days from the date of providing such notice.
The Company intends to use the net proceeds of the Financing to advance its exposure in international markets,
expand its niche market successes in the resource sector, and for corporate working capital and exploration
analysis.
A portion of the Private Placement constitutes a “related party tran saction” within the meaning of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61 -101”) as 916,666
Units were issued to certain insiders of the Company pursuant to the Private Placement. The issuance of the
securities to the insiders are exempt from the formal valuation and minority shareholder approval requirements
under MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) as the Company’s common shares are not listed
on a specified market and the fair market value of these securities will not exceed 25% of the Company’s market
capitalization.
The Offering is subject to TSX Venture Exchange approval. All securities issued pursuant to the Private
Placement are subject to a hold period of four months and one day. There are no finder’s fees payable on
completion of the placement.
The securities described herein have not been, and will not be, registered under the United States Securities
Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in
compliance with the registration requirements of the U.S. Securities Act and applicable state securities
requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
ABOUT ANGKOR RESOURCES CORPORATION:
Angkor Resources Corp. is a public company, listed on the TSX -Venture Exchange, and is a leading resource
optimizer in Cambodia with multiple licenses in NE quadrant of the country. In 2020, the company received
approval and initiated negotiations on Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square
kilometre oil and gas license in Cambodia.
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CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: [email protected]
Website: http://www.angkorresources.ca or follow us on Twitter @AngkorResources
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 information set forth in this news release may contain forward -looking statements that involve substantial known
and unknown risks and uncertainties. These forward -looking statements are subject to numerous risks and uncertainties,
certain of which are beyond the control of the Company, including, but not limited to the potential 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 of general e conomic conditions, industry conditions, dependence upon regulatory approvals,
uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are
cautioned that the assumptions 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 on forward -looking statements.