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 2196231 Alberta Ltd., an arm's length party.
As previously announced on January 5, 2026, the Company's wholly-owned subsidiary, EnerCam Exploration Ltd., entered into an Agreement of Purchase and Sale dated December 31, 2025. All payments under the Agreement have now been received and deposited, including a $250,000 non-refundable deposit paid on December 19, 2025, a payment of $375,000 on January 30, 2026, the balance of the Loan of $3,800,000 applied 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.
This strategic sale removes a debt of $3,800,000 from the Company's books and provides net proceeds of $1,000,000. Shareholder approval was obtained at the Annual General and Special Meeting held on January 29, 2026, with over 99% of votes cast in favor. Delayne Weeks, CEO, stated, "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."
The Company's focus now shifts to its Cambodian operations. Through its subsidiary EnerCam Resources, Angkor holds an onshore oil and gas license for Block VIII, covering approximately 4,095 square kilometers in southwest Cambodia. Having completed seismic surveys in 2025, the Company has identified multiple drill targets and is advancing an Environmental Impact Assessment and drilling plans for Cambodia's first onshore oil and gas exploratory wells. Weeks emphasized the significance: "Discovering oil and gas in Cambodia as a new jurisdiction is a country changer. It brings energy independence to the entire nation, significantly reduces imports of hydrocarbon based energy, and develops a very significant sector of new skillset development and employment opportunities."
Additionally, the Company's mineral subsidiary, Angkor Gold Corp., holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold. Both licenses are in their first two-year renewal term. The sale of the Evesham assets allows Angkor to allocate resources to these high-potential projects. For more details, refer to the original announcement at NewMediaWire and previous disclosures on the Company's website at angkorresources.com.
This release includes forward-looking statements regarding the Company's plans and expectations. These statements involve risks and uncertainties, and actual results may differ materially. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
