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, eliminates $3.8 million in debt and provides the company with $1 million in net working capital.
As previously announced in January 2026, Angkor's wholly-owned subsidiary EnerCam Exploration Ltd. entered into an Agreement of Purchase and Sale with 2196231 Alberta Ltd., an arm's length party, for a total purchase price of $4.8 million. All payments have now been received, including a $250,000 non-refundable deposit paid in December 2025, a $375,000 payment in January 2026, the $3.8 million loan balance applied at closing, and a final $375,000 payment received on March 1, 2026. All profit entitlements and operating and capital commitments after October 1, 2025 have accrued to the purchaser.
Shareholder approval for the disposition was obtained at the Annual General and Special Meeting held on January 29, 2026, where over 99% of votes cast were in favor. 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.'
Angkor now aims to concentrate on its Cambodian assets. Its energy subsidiary, EnerCam Resources, holds an onshore oil and gas license for Block VIII covering over 4,095 square kilometers in southwest Cambodia. The company completed seismic surveys in 2025, identifying multiple drill targets, and is advancing an Environmental Impact Assessment and drilling plans for Cambodia's first onshore exploratory wells. Weeks emphasized the potential impact: 'Discovering oil and gas in Cambodia as a new jurisdiction is a country changer. It brings energy independence to the entire nation.'
Additionally, Angkor's mineral subsidiary, Angkor Gold Corp., holds two mineral exploration licenses in Cambodia with multiple copper and gold prospects. The sale of the Evesham assets was a strategic move to strengthen the company's balance sheet and redirect resources toward higher-growth opportunities.
