30 June 2014
Cambodian
firm Angkor Gold Corp (ANK) on Thursday finalised a partnership agreement with
Hong Kong firm Tohui Beishan Property Group Holding Limited (TG) worth more
than $10.4 million.
According
to a company statement issued on the Toronto Stock Exchange, ANK granted the
Hong Kong firm 7.9 million shares in the company at $0.285 per share, valued at
$2.25 million. In addition to the share sale, ANK has granted TG the option of
purchasing a further 7.9 million shares at $0.5 per share (valued at $3.95
million), and the option to purchase 15 % of the gold exploration company’s
Cambodian operations for a price tag of $4.28 million.
ANK’s
locally wholly owned subsidiary, Angkor Gold Cambodia, has for the past five
year operated gold exploration operations in Ratanakkiri province under seven
separate exploration licenses issued by the Cambodian government.The firm’s
exploration area covers more than 1,440 square km of the far northeastern
province.
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