Ecuador Gold announces exercise of warrants
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TORONTO, March 25, 2014 /CNW/ - Pursuant to private placements of Ecuador Gold & Copper Corp. (TSX-V: EGX) (the "Company"), which closed on September 23, 2013 and November 6, 2013 , the Company issued to Aura International Services Ltd. ("Aura") an aggregate of 28,003,157 common shares and 28,003,157 share purchase warrants (each a "Warrant") to purchase an additional 28,003,157 common shares of the Company at a price of US$0.075 per common share.
The Company is pleased to announce that Aura has completed the exercise of 6,666,666 Warrants and has paid the Company a total purchase price of US$500,000. Previously, Aura exercised an aggregate of 23,333,332 warrants for total gross proceeds to the Company of US$1,750,000 in December 2013, January 2014 and February 2014, as further described in the Company's news releases dated December 16, 2013, January 15, 2014 and March 3, 2014.
Aura now holds a total of 119,730,254 common shares of the Company, representing approximately 52% of the issued and outstanding shares of the Company on an undiluted basis.
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Glenn Laing
President & CEO
Telephone: +1 647 865 3101
Email: glaing@ecuadorgoldandcopper.com
OR
CHF Investor Relations
Jeanny So, Senior Account Manager
Tel: +1 416 868 1079 ext. 231
Email: jeanny@chfir.com