Non-Brokered Private Placement Of Up To $1.4 Million
Non-Brokered Private Placement Of Up To $1.4 Million
TORONTO, ON, (May 29, 2020): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF)
(“Angkor” or “the Company”) is pleased to announce a non-brokered private placement (the
"Private Placement") with a syndicate of strategic investors led by Palisades Goldcorp Ltd.
The private placement is for up to 28,000,000 units (each "Unit”) at a purchase price of $0.05 per
Unit, for aggregate gross proceeds to the Company of up to $1,400,000. Each Unit consists of
one (1) common share ("Common Share") of the Company and one (1) non -transferable share
purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one (1) Common
Share of the Company at an exercise price of $0.10 for a period of 36 months from the closing
date of the Private Placement.
Use of proceeds from the Private Placement will fund ongoing exploration activities and
operations.
The private placement is subject to TSX Venture Exchange approval. There will be a hold period
of four months and one day on all securities issued under this financing.
Price Volatility
The Company has no control over trading in its shares. We understand that yesterday’s market
volatility was the result of an inadvertent data entry error made by a financial intermediary who
deals in our shares. The Company is conducting an investigation of this incident to determine how
we can work with financial intermediaries to minimize the possibility of a recurrence.
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 . In 2019 , it entered into
negotiations with the Cambodian Government on Block VIII, a 7,300 square kilometre oil and gas
exploration license in Cambodia.
ABOUT PALISADES GOLDCORP
Palisades Goldcorp is Canada's newest resource focused merchant bank. Palisades'
management team has a demonstrated track record of making money and is backed by many of
the industry's most notable financiers. With junior resource equities valued at generational lows,
management believes the sector is on the cusp of a major bull market move. Palisades is
positioning itself with significant stakes in under valued companies and assets with the goal of
generating superior returns.
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CONTACT:
Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: [email protected]
Website: 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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