TSX-V Exchange Approves Shares For Debt Transactions

Executive Summary

• TSX Venture Exchange approved Angkor Resources’ proposed shares‑for‑debt transaction, converting approximately $1.92 M of debt into equity and warrants.
• The company will issue 9,156,190 common shares at $0.21 per share and 4,131,667 warrants exercisable at $0.30 per share for a 24‑month period, with forced‑exercise provisions if the share price reaches $0.40 for ten consecutive days.
• Issued shares are subject to a four‑month‑plus‑one‑day hold period; the transaction is now complete and the debt will be removed from the balance sheet.

Key Details

• Debt eliminated: $1,922,800 previously owed to certain creditors.
• Equity issued: 9,156,190 common shares at a price of $0.21 per share (gross proceeds ≈ $1.92 M).
• Warrants issued: 4,131,667 full warrants, each allowing purchase of one common share at $0.30 for 24 months from issuance.
• Acceleration clause: Warrants may be forced exercised if Angkor’s share price trades at ≥ $0.40 for ten consecutive trading days.
• Hold period: Common shares subject to a lock‑up of four months and one day following issuance, per TSXV policies.
• Transaction status: With TSX approval received, the transaction has closed and is considered complete; debt removed from balance sheet.

Notable Quotes

(No direct quotes were provided in the release.)