Angkor Resources Corp. (TSXV: ANK) announced the completion of all final payments and the closing of the sale of its 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan. The transaction, which received conditional approval from the TSX Venture Exchange, involved a purchase price of $4,800,000 from arm's length party 2196231 Alberta Ltd.
According to the company's statement, all payments under the Agreement of Purchase and Sale dated December 31, 2025, have been received and deposited. These include a $250,000 non-refundable deposit paid on December 19, 2025, a $375,000 payment on January 30, 2026, the balance of a loan of $3,800,000 applied to the purchase price on closing, and a final payment of $375,000 received on March 1, 2026. All profit entitlements and operating and capital commitments under the assets after October 1, 2025, have accrued to the Purchaser.
The strategic sale of these oil and gas assets removed $3,800,000 in debt from the company's books and provided $1,000,000 in net proceeds. Shareholder approval for the disposition was obtained at the Annual General and Special Meeting of Shareholders held on January 29, 2026, where over 99% of the votes cast were in favor of the transaction.
Delayne Weeks, CEO, commented, “We are pleased to announce the successful closing of the Evesham disposition. This transaction eliminates $3,800,000 in debt and provides the Company with additional working capital. We can now focus our resources and efforts on advancing our Cambodian onshore Block VIII oil and gas project and our mineral exploration programs, which represent the highest potential for growth and value creation for our shareholders. Discovering oil and gas in Cambodia as a new jurisdiction is a country changer. It brings energy independence to the entire nation, significantly reduces the imports of hydrocarbon based energy, and develops a very significant sector of new skillset development and employment opportunities.”
The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license of approximately 4,095 square kilometers in Block VIII. After completing seismic surveys in 2025, the company has identified multiple drill targets and is advancing an Environmental Impact Assessment and drilling plans to drill Cambodia's first onshore oil and gas exploratory wells.
Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on mineral and energy solutions in Cambodia. Its mineral subsidiary, Angkor Gold Corp., holds two mineral exploration licenses with multiple prospects in copper and gold. Both licenses are in their first two-year renewal term.
For more information, visit the company's website at angkorresources.com. The original press release can be viewed on NewMediaWire.
This release includes forward-looking statements within the meaning of applicable Canadian securities laws. These statements involve risks and uncertainties, and actual results may differ materially from those anticipated.
