Angkor Gold Corp. (TSXV:ANK) acquired Liberty Mining ad Transol Mining, owners of the 209 square kilometre Andong Meas concession in Cambodia.
As quoted in the press release:
The Acquisition results in two significant accomplishments. First, it adds 100% ownership of an entirely new 209-square kilometre concession known as Andong Meas. Second, Angkor previously held 90% of their initial 4 properties and this transaction results in Angkor acquiring the remaining 10% interests. Angkor now owns 100% in five concessions, namely Banlung, Banlung North, Oyadao, Oyadao South, and Andong Meas.
Angkor completed this acquisition (the “Acquisition”) through the purchase of all of the issued and outstanding shares of Liberty Mining International Pty Ltd. (“Liberty”) from Interactive Industrial Solutions Inc. (“IISI”) in exchange for cash in the amount of $200,000 and 4,250,000 common shares in the capital of Angkor. These shares will be voluntarily escrowed for 6 months.
IISI is an Alberta corporation owned by Michael Weeks, the President and CEO of Angkor. Liberty is an Australian corporation which owns Liberty Mining International Pty Ltd., a Cambodian subsidiary company, which owns a 10% interest in Angkor’s Banlung, Banlung North and Oyadao concessions. Liberty also owns Transol Mining and Exploration Pty Ltd., which owns 100% of the 209 square kilometre Andong Meas concession in Cambodia and a 10% interest in Angkor’s Oyadao South gold exploration property.
Angkor Gold Corp. President and CEO Mike Weeks said:
This acquisition brings great value to Angkor. This further confirms our position that our exploration in Cambodia is a country play. And Andong Meas … What a great addition to our exploration portfolio! It is adjacent to two of our other properties; it extends and increases our deposits of mineralization, and it substantially increases our progress towards an economic deposit. I have witnessed multiple locations with hundreds of artisanal workings, and these guys don’t work the land in this manner unless they are finding gold. This has been confirmed with recent assays.Click here to read the Angkor Gold Corp. (TSXV:ANK) press release
Click here to see the Angkor Gold Corp. (TSXV:ANK) profile
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