Eco Oro Announces Resolution of Options Litigation
VANCOUVER, May 26, 2017 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX: EOM) announces that it has resolved the issues raised by Harrington Global Opportunities Fund Ltd. and Courtenay Wolfe regarding the recent grant of 2,150,000 options to directors and officers of the Company (the "Options") on May 8, 2017.
The parties have agreed that (i) Harrington and Ms. Wolfe will withdraw their request that the B.C. Securities Commission set aside the option grant, (ii) as already announced, 400,000 of the Options have been rescinded and the remaining Options will not be exercisable until following the next annual and special meeting of shareholders (the "Meeting") and (iii) all rights under the outstanding Options will terminate if the shareholders at the Meeting elect a majority of directors that are not nominees of the incumbent board. The 1,480,000 options granted to employees on May 8, 2017, which vest over a two-year period, are unaffected and will continue as granted.
Company Profile
Eco Oro Minerals Corp. is a publicly-traded precious metals exploration and development company with a portfolio of projects in Colombia. Eco Oro has been focused on its wholly-owned, multi-million ounce Angostura gold-silver deposit, located in northeastern Colombia.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Eco Oro Minerals Corp.
For more information please visit the Company's website at www.eco-oro.com or contact: Mark Moseley-Williams, President and Chief Executive Officer, Tel: +1 604 682 8212, TF: + 1 855 682 8212; Shareholders Please Contact: D.F. King, North American Toll Free Number: 1-800-240-2133, Outside North America, Banks, Brokers and Collect Calls: 1-201-806-7301, Email: [email protected]; Members of the Media Only: Riyaz Lalani, Bayfield Strategy, Inc., [email protected]
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