GRANDE PRAIRIE, AB--(Marketwired - April 11, 2017) - ANGKOR GOLD CORP. (TSX VENTURE: ANK) (OTC PINK: ANKOF) ("Angkor" or the "Company") is pleased to announce that it has closed a non-brokered private placement. The Private Placement is subject to TSX Venture Exchange approval.
The Company completed the sale of 1,506,250 shares of the Company at a price of C$0.32 per Share for gross proceeds of C$482,000. No commissions were paid on the private placement. Of the total, approximately 337,500 shares were purchased by management of Angkor.
The Common Shares acquired by the subscribers are subject to a hold period of four months plus one day and may not be traded until August 11, 2017.
The Company intends to use the funds raised from the issuance of the shares for general working capital and to continue to fund the on-going exploration programs at its properties located in Cambodia.
The Company also announces that pursuant to the Company's Stock Option Plan it has granted 2,990,000 stock options at a price of C$0.38 per common share to directors, officers and consultants of the Company. The option grants will vest immediately. As per the Company's Stock Option Plan, the options granted are exercisable until April 10, 2022. Grant of the options is subject to the approval of the TSX Venture Exchange.
Angkor will be applying to the TSX Venture Exchange for approval to extend the expiry date of 1,563,000 common share purchase warrants that were issued as part of a non-brokered private placement completed by the Company in July, 2016. The Warrants are exercisable for common shares of Angkor at a price of $0.50 per share. The Company is proposing to extend the expiry date of the warrants by an additional twelve (12) months to 4:30 p.m., Alberta time on July 29, 2018. All other terms and conditions of the warrants, including the exercise price, will remain the same. The proposed extension of the expiry is conditional upon the receipt of Exchange approval.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold 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 a first-mover advantage building strong relationships with all levels of government and stakeholders.
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.