Angkor Resources Corp. announced voting results from its Annual General Meeting held January 29, 2026, with shareholders approving all resolutions including the strategic sale of the corporation's 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan to an arm's length party for $4,800,000. 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. This asset sale represents a fundamental strategic shift, removing $3,800,000 in debt from the company's books while providing $1,000,000 in net proceeds, with over 99% of voting shareholders supporting the transaction.
The company stated this move will allow it to redirect resources toward its Cambodian onshore Block VIII Project for potential growth, marking a significant pivot in operational focus. Shareholders also approved several other key measures including 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. A total of 96,855,431 common shares, representing approximately 47.78% of outstanding shares, were voted at the meeting, demonstrating substantial shareholder engagement in these strategic decisions.
Following the meeting, Dr. David Johnson joined the board, 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. His appointment comes as the company 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 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 represent a coordinated effort to strengthen the company's financial position while positioning it for future growth opportunities in Cambodia. The overwhelming shareholder approval of the Saskatchewan asset sale indicates strong support for management's strategic direction and confidence in the company's ability to execute its revised business plan focused on Cambodian energy development.
