SEXSMITH, AB –(Marketwired – March 20, 2017) – Angkor Gold Corp.(TSXV:ANK) (“Angkor” or “the Company”) is pleased to announce it has received ahead of schedule the payment of USD $50,000 from Mesco Gold Ltd. (“Mesco”) towards Mesco’s final tranche of their obligation under the Agreement of Purchase and Sale for Mineral Rights to the Phum Syarung Prospect.
A payment schedule was announced by the Company in a press release dated March 9, 2017 where Mesco agreed to pay to Angkor the remaining USD $500,000 in instalments, with the first payment of USD $50,000 to be made by Mesco on or before March 25th. Mesco paid the USD $50,000 ahead of schedule.
Mesco is obligated to make additional payments to Angkor of USD $30,000 every three months until the USD $500,000 is retired. If Mesco receives an amended mining license or begins to process ore at Phum Syarung, any remaining balance outstanding is immediately payable to Angkor.
Angkor retains a 2.0% to 7.5% sliding scale Net Smelter Return (NSR) on future production at Phum Syarung based on the price of gold.
ABOUT ANGKOR GOLD CORP.
Angkor Gold Corp. is a public company listed on the TSX Venture Exchange and is Cambodia’s premier mineral explorer with a significantly large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Vice President of Corporate Development
Telephone: (647) 515-3734
Website at: http://www.angkorgold.ca