Angkor Resources Corp. has completed the sale of its 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan, receiving all final payments and closing the transaction that received conditional approval from the TSX Venture Exchange. The company's wholly-owned subsidiary, EnerCam Exploration Ltd., entered into the Agreement of Purchase and Sale with 2196231 Alberta Ltd. for a purchase price of $4,800,000, as previously announced in the company's January 5, 2026 announcement. All payments under the agreement have been received and deposited, including a $250,000 non-refundable deposit paid on December 19, 2025, a $375,000 payment on January 30, 2026, the balance of a $3,800,000 loan applied to the purchase price on closing, and a final $375,000 payment received on March 1, 2026.
The strategic sale removed $3,800,000 in debt from the company's books and provided $1,000,000 in net proceeds, with shareholder approval obtained at the January 29, 2026 Annual General and Special Meeting where over 99% of votes cast were in favor. CEO Delayne Weeks stated that the transaction eliminates the debt and provides additional working capital, allowing the company to focus resources on advancing its Cambodian onshore Block VIII oil and gas project and mineral exploration programs. Weeks emphasized that discovering oil and gas in Cambodia as a new jurisdiction represents significant potential for growth and value creation for shareholders, noting it could bring energy independence to the nation, reduce hydrocarbon energy imports, and develop new skills and employment opportunities.
The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII, where it has completed seismic work in 2025, identified multiple drill targets, and is advancing an Environmental Impact Assessment and drilling plans for Cambodia's first onshore oil and gas exploratory wells. Angkor Resources' mineral subsidiary, Angkor Gold Corp., holds two mineral exploration licenses in Cambodia with copper and gold prospects, both in their first two-year renewal term. The completion of this transaction represents a pivotal shift in the company's strategic direction, moving capital from mature Canadian assets to high-potential exploration in Southeast Asia. This reallocation of resources could position Angkor Resources as a first-mover in Cambodia's emerging energy sector, with implications for regional energy security and economic development. The financial restructuring through this sale provides the company with a cleaner balance sheet and operational flexibility to pursue these ambitious projects without the burden of previous debt obligations.
