Business
Angkor Gold Corp to Grant Options at a Premium of 10% Above 30 Day Average Trading Price
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2012) - ANGKOR GOLD CORP. (TSXV: ANK...
About this update from Angkor Resources Corp.
[{"type":"text","content":"\nAngkor Gold Corp to Grant Options at a Premium of 10% Above 30 Day Average Trading Price\n\nVancouver, British Columbia--(Newsfile Corp. - December 4, 2012) - ANGKOR GOLD CORP. (TSXV: ANK) (“ANGKOR”) Angkor is \npleased to announce that it has granted an aggregate of 3,211,000 incentive \nstock options under its stock option plan to its directors, officers, employees \nand consultants.\nEach option, vesting immediately upon grant, entitles the \nholder thereof to purchase one Common Share in the capital of Angkor at a price \nof $0.33 per share, representing an exercise price that is 10% above the 30 day \naverage trading price. \nMike Weeks commented, “We have decided to issue the options 10% \nabove our current market price because we believe in the long term value of our \ncompany. It is our intention to continue building value for all shareholders in \n2013, and the Angkor management team has been actively pursuing avenues to \naccomplish our mid-term goal of self-financing our exploration efforts.”\nOf the 3,211,000 incentive stock options granted, 476,000 \noptions were granted to Angkor’s Khmer staff in Cambodia. These options will \nhave an exercise period of five years from the date of grant. The remaining \n2,735,000 options were granted to Angkor’s directors, officers and consultants, \nand will expire two years from the date of grant.\nThe stock options are not transferrable. The common shares \nissued upon exercise of the stock options will be subject to a four month resale \nrestriction from the date of grant.\nOn December 3, 2012, the last day that the Company's common \nshares traded prior to the granting of the stock options, the closing trading \nprice of the common shares on the TSX Venture Exchange was $0.275.\nANGKOR GOLD CORPORATION is a public company listed on \nthe TSX-Venture exchange. The company has 5 exploration licenses in the Kingdom \nof Cambodia covering a total of 1348 km2 and 3 Memoranda of \nUnderstanding with the Ministry of Mines, Industry and Energy covering a further \n1499 km2. The company has been actively exploring these concessions \nover the past 3 years, and has now covered all 8 tenements with stream sediment \ngeochemical sampling, has flown low level aeromagnetic surveys over much of the \nground, drilled 17,556 metres of NQ core in 143 ...