Angkor Insiders Exercise Options at Premium
GRANDE PRAIRIE, AB, (July 6th, 2021): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) is pleased to announce that six insiders have exercised options at a premium to the share price.
Angkor Resources insiders have exercised 1.568 million options at a price of $.07 each, which represents a premium to the current share price. In total, insiders own around 25% of the shares outstanding. Insiders have also purchased in excess of 2 million shares over the past 12 months.
The following insiders were involved: Dennis Ouellette (VP of Exploration), Russ Tynan (Chairman), Delayne Weeks (CEO), Scott Smith (director), Terry Mereniuk (director), Mike Weeks (director and VP of Operations).
Ms. Weeks commented, “Angkor is proceeding with its strategic review; we are making changes and the insiders understand the impact. Exercising options at a premium protects our shareholders from more dilution at low prices; this is part of increasing shareholder value and our renewed vision.”
The proceeds will cover general operating costs and additional exploration activities undertaken on the Andong Meas license in NE Cambodia. Sampling, mapping and processing of samples continue to date on the license.
ABOUT ANGKOR RESOURCES CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading early-entry resource explorer in Cambodia with a large land package over 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.
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Website: https://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 economic 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.