Extension of Convertible Note and Warrants
TORONTO, ON, (APRIL 8th, 2021): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company) The Company proposes to extend the terms of its Convertible Notes (the “Notes”) and detachable share purchase warrants issued in May and July 2018 for an additional 12 month period.
The Notes were originally issued for a three (3) year term which would now be extended for a fourth (4) year. The notes bear interest at the rate of six percent (6.00%) per annum if paid in cash or ten percent (10%) per annum if paid by common shares. The insider participation of the Notes is for an aggregate of $450,000.
The 4,200,000 detachable warrants (the “Warrants”) are exercisable for a common share in the Company at an exercise price of $0.30. Of the warrants issued 1,800,000 were issued to insiders of the Company.
All terms and conditions of the original issuance as disclosed on July 16, 2018 (see press release) shall remain the same with the only amendment being the extension of the terms of the Notes and Warrants by an additional 12 month period.
These extensions are subject to TSX-V approval.
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 across four 100%-owned licenses and a fifth license under an earn-in agreement with a third party. In 2019, the company received approval to negotiate Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Website: https://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.