Angkor Completes Private Placement
SEXSMITH, AB (July 16, 2018) ANGKOR GOLD CORP. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) the “Company”) a leading Canadian gold and copper mineral explorer in Cambodia, is pleased to announce that it has closed the final tranche of its previously announced convertible note offering (“The Notes”) for a final aggregate total of $1,050,000 raised.
The Notes have a three (3) year term and 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 Note holders may, at their discretion, have the interest payments made in cash or in common shares at an issue price equal to the market price at the time of settlement. At the end of the term the Company will have the option to convert the principal amount into common shares in the capital of the Company at a conversion price of $0.25 per share, or repay the outstanding principal in cash. The Notes will also consist of a detachable warrant exercisable for a common share in the Company at $0.30 for a period 3 years from the issue date.
Pending TSX-V approval, the Company will issue the second tranche of the convertible notes for $500,000 along with the 2,000,000 warrants. The Company notes that insider participation in the second tranche of The Notes was $450,000.
The proceeds from this offering will be used to finance continued gold and copper exploration on Angkor’s five exploration licenses in Cambodia, and for general working capital purposes.
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.
On behalf of the Board,
Mike Weeks, Executive Chairman
Angkor Gold Corp.
Stephen Burega, CEO
Telephone: (647) 515-3734
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.
Category: Press Release