Angkor Resources Corp. announced voting results from its Annual General Meeting held January 29, 2026, where shareholders approved all resolutions, including the significant sale of the corporation's 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan. The transaction, valued at $4,800,000, received support from over 99% of voting shareholders and represents a strategic shift for the company. This move will remove $3,800,000 in debt from its books while providing $1,000,000 in net proceeds, allowing Angkor Resources to redirect resources toward its Cambodian onshore Block VIII Project for potential growth. The original announcement of this transaction is detailed in the company's ANGKOR RESOURCES SIGNS LETTER OF INTENT TO SELL EVESHAM OIL PRODUCTION - Angkor Resources Corp. release.
Shareholders also approved several other key measures during the meeting, where 96,855,431 common shares, representing approximately 47.78% of outstanding shares, were voted. These measures included reappointing Davidson & Company LLP as auditors, setting the number of directors at six, and approving the company's rolling stock option plan. The company's detailed Management Information Circular explaining all resolutions is available on its website at https://angkorresources.com.
Following the meeting, Dr. David Johnson joined the board of directors, bringing more than 40 years of global exploration and production experience covering petroleum, natural gas, and helium. His extensive career includes positions with Shell, Exxon Production Research, ExxonMobil Exploration, Husky Energy, the Kuwait Oil Company, and KUFPEC. Johnson has led bid-round acquisitions of more than 20 Production Sharing Agreements and exploration licenses across more than 40 petroleum jurisdictions worldwide, with significant discoveries in the South China Sea, Canadian Frontiers, and Western Canada.
The company also noted the retirement of long-time directors Steve Cochrane and Scott Smith, acknowledging their contributions and ongoing support. CEO Delayne Weeks commented on the shareholder participation and welcomed Dr. Johnson to the board. This leadership transition and strategic asset sale come as Angkor Resources focuses on advancing its Cambodian operations through its energy subsidiary EnerCam Resources, which holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII. The combination of debt reduction through the Saskatchewan asset sale and the addition of Dr. Johnson's expertise positions the company to potentially accelerate development of its Cambodian assets, which represent a substantial exploration opportunity in Southeast Asia.
