Angkor Completes Private Placement

About this update from Angkor Resources Corp.

[{"type":"text","content":"Angkor Completes Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Grande\n \n \n Prairie,\n \n \n AB -\n \n \n TheNewswire -\n \n \n September\n18,\n \n \n 2023 -\n \n \n Angkor\n \n \n Resources\n \n \n Corp.\n \n \n (TSXV:ANK\n \n \n )\n \n \n and\n \n \n (\n \n \n OTC:ANKUR) (“Angkor” or “the\nCompany”)\n \n \n announces it has completed a\nnon-brokered private placement and will issue 2,857,143 units (each a\n\"Unit\") for gross proceeds of CAD $200,000 (the\n\"Offering\").   As previously announced, each was offered at\n$0.07 and is comprised of one common share (each a \"Common\nShare\") and one Share purchase warrant entitling the holder to\nacquire one (1) Common Share at CAD$0.10 for a period three years from\nthe date of issuance.\n \n \n \n \n The net proceeds of the Offering will be for general\ncorporate purposes and no commission, finder’s fee or similar\npayment (whether in the form of cash, securities or an interest in\nassets) will be paid by the Company in connection with the\nOffering.\n \n \n \n \n An insider of the Company has participated in the\nprivate placement and acquired 1,428,571 units for proceeds of\n$100,000. The participation of the CEO in the private placement\nconstitutes a Related Party Transaction within the meaning of\nMultilateral Instrument 61-101 Protection of Minority Security Holders\nin Special Transactions (\"MI 61-101\"). The Company has\ndetermined that the transaction is exempt from the formal valuation\nand minority shareholder approval requirements contained in sections\n5.5(a) and 5.7(1)(a) of MI 61-101 for the related party transaction,\nas neither the fair market value of securities issued to the insiders\nnor the consideration paid by the insiders exceeded 25 percent of the\nCompany's market capitalization. The Company did not file a material\nchange report in respect of the transaction 21 days in advance of the\nclosing of the private placement because insider participation had not\nbeen confirmed. The shorter period was necessary in order to permit\nthe Company to close the private placement in a timeframe consistent\nwith usual market practice for transactions of this nature.\n \n \n \n \n This private placement remains subject to the...

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