Angkor Resources Corp. has entered into a term sheet with institutional investor Sorbie Bornholm LP to secure approximately $3.5 million through a private placement of 14,000,000 units, supporting ongoing exploration across its Cambodian mineral assets.

The financing is structured around a 24-month equity swap sharing agreement, with proceeds released in 24 equal monthly tranches of approximately $145,000 alongside proportional common shares and warrants. Sorbie will fund the subscription in cash or UK government bonds, with monthly cash proceeds expected to begin 30 days after closing.

Units are issued at $0.25, comprising one common share, 3,710,000 warrants exercisable at $0.32 with a three-year maturity, and 10,290,000 additional warrants carrying a three-year maturity and an exercise price set at a 5% premium to the 20-day volume-weighted average price. The sharing agreement establishes a benchmark price of $0.3144; if the monthly settlement price exceeds this benchmark, Angkor receives additional proceeds pro-rata without issuing additional shares, while a price below the benchmark reduces the monthly tranche without increasing the share count.

Chief Executive Officer Delayne Weeks highlighted the strategic flexibility of the arrangement.

“We were looking for flexible institutional investors and Sorbie’s filled that demand. While the Block VIII oil transaction advances, we want to concurrently build value in the copper and gold mineral plays and this transaction allows us to do exactly that. Also, as we anticipate the share price to increase with coming milestones, this unique deal allows us to be paid a monthly amount that also increases accordingly without the number of shares we issue increasing.” — Delayne Weeks, CEO

The funding will support assay work and exploration as the company advances its portfolio. Angkor assumed independent control of the Andong Bor license in August 2025 and initiated a 2,800-metre diamond drill program at the copper-gold target in June 2026, with the second phase of 1,600 metres planned for early 2027.

“The use of proceeds as a monthly cash release of approximately $145,000 allows us to assay the existing mineral core and plan further drilling on the copper porphyry at Andong Bor and the gold prospects on Andong Meas mineral licenses. Monthly allotments allows us to continue to advance our operations on all fronts, leading to planned transactions on the mineral licenses in 2027.” — Delayne Weeks, CEO

Closing of the private placement is subject to the execution of final commercial agreements and approval from the TSX Venture Exchange.

Read the full announcement: Angkor Resources Announces $3,500,000 Financing