Angkor Resources Corp. announced the results of its Annual General Meeting held on January 29, 2026, where shareholders approved all resolutions including the appointment of a new director and a strategic asset sale. Approximately 47.78% of outstanding shares were voted, with over 99% approval for the sale of the company's 40% interest in Saskatchewan oil and gas lands for $4.8 million.
The asset sale represents a fundamental shift in corporate strategy, removing $3.8 million in debt from the company's books while generating $1 million in net proceeds. This transaction, detailed in the original Letter of Intent announcement, allows the company to redirect resources toward its Cambodian onshore Block VIII Project. The strategic importance lies in the company's pivot from Canadian assets to focus exclusively on potential growth opportunities in Cambodia's emerging energy sector.
Shareholders elected six directors to the board, including newly appointed Dr. David Johnson, a geoscientist with over 40 years of global exploration and production experience. Dr. Johnson's extensive background includes work with major energy companies and significant discoveries across multiple continents, bringing valuable expertise to Angkor's Cambodian operations. His appointment coincides with the retirement of long-time directors Steve Cochrane and Scott Smith, marking a transition in corporate leadership.
The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII. Having completed seismic work in 2025, the company aims to identify drill targets for what could become Cambodia's first onshore exploratory oil and gas wells. This development carries broader implications for Cambodia's potential emergence as an oil and gas producing nation, with Angkor positioning itself as a key player in this national energy initiative.
CEO Delayne Weeks acknowledged shareholder support and welcomed Dr. Johnson to the board, emphasizing the company's commitment to advancing its Cambodian projects. The shareholder approval of the company's rolling stock option plan and the reappointment of auditors further solidifies the corporate governance framework supporting these strategic initiatives. The complete Management Information Circular detailing all resolutions remains available on the company's website for reference.
This corporate restructuring matters because it represents a calculated shift from established Canadian assets to frontier exploration in Southeast Asia. The debt reduction and fresh capital provide financial flexibility while the addition of Dr. Johnson's expertise strengthens technical capabilities. For the energy industry, Angkor's focused approach to Cambodian development highlights growing interest in Southeast Asian energy potential. For investors, the strategic realignment offers exposure to early-stage exploration with potentially significant upside, though it also carries the inherent risks of frontier resource development.
