Ecuador Gold Announces Successful Special Shareholders Meeting, Share Consolidation and New Articles
11.03.2016 | Newsfile
Vancouver, March 11, 2016 - Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company") is pleased to announce that its shareholders voted by wide margin to approve all matters at the Special Meeting of the Shareholders of the Company held on March 4, 2016 (the "Meeting"). Specifically, the shareholders voted 97.5% in favour of the 10-to-1 share consolidation, 97.6% in favour of replacing the Articles of the Company with newer modernized Articles, and 97.6% (75.0% of a majority of the minority shareholders, excluding the three largest shareholders) in favour of the amendment to the currently issued and outstanding convertible debentures of the Company, all as more thoroughly described in the Company's information circular dated February 1, 2016.Subject to approval of the TSX Venture Exchange the Company's common shares will be consolidated on the basis of one (1) post-consolidated common share for ten (10) pre-consolidated common shares (the "Consolidation"). Following the Consolidation, the number of outstanding common shares in the capital of the Company will be approximately 25,728,975. There will be no name or symbol change in conjunction with the Consolidation.
The Company expects the Consolidation to take effect immediately prior to commencement of trading on Monday, March 14, 2016.
If a shareholder becomes entitled to receive a fraction of a common share, such fractional share, if less than one-half, will be rounded down to zero and, if equal to or greater than one-half, will be rounded up to one and added to the number of shares to be held by the shareholder.
Pursuant to the Meeting, the Company has also completed the replacement of the Company's Articles, a copy of which are filed under the Company's profile on SEDAR at www.sedar.com.
About Ecuador Gold and Copper Corp.
Ecuador Gold and Copper Corp. is a Canadian exploration and mining company focused on its gold and copper mineral properties located in the Province of Zamora-Chinchipe in southern Ecuador. The Company has completed a Preliminary Economic Assessment of its Santa Barbara Gold and Copper Project dated May 29, 2015, and is currently listed on the TSX Venture Exchange under the symbol "EGX". For additional information, please visit us at www.ecuadorgoldandcopper.com.
For further information please contact:
Ecuador Gold and Copper Corp.
Heye Daun, President, Chief Executive Officer and Director
Telephone: +1-604-687 2038 (Vancouver Office)
Email: hdaun@ecuadorgoldandcopper.com
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