Angkor Gold Corp. (TSXV:ANK) announced the completion of the strategic transaction for the sale of a 8km subsection of its 300km Oyadao tenement to All Solutions Co. Allsol has been issued a new 78 km exploration license and the Company retains the remaining 222 km of the existing Oyadao license. The Company has received the total payment.
As quoted in the press release:
Under the terms of the deal, the two million and four hundred thousand US dollars (USD $2,400,000) payment from Allsol to Angkor was held in escrow pending issuance of the new exploration licence.
Angkor Gold Corp. CEO and Chairman, Mike Weeks said:
The completion of this transaction strengthens our financial position and enables us to expand our 2013 exploration program. We look forward to providing fuller details of our 2013 exploration program in due course. In the interim, we invite our shareholders and the investment community to visit our newly updated corporate presentation, available on our website, to learn more about our ACTION-based strategy and why we’re Cambodia’s Premier Gold Explorer.