Eco Oro Shareholders Announce that the Ontario Securities Commission Has Set Aside the TSX Decision that Approved the Issuance of the 10,600,000 Shares

TORONTO, April 24, 2017 /CNW/ - Courtenay Wolfe and Harrington Global Opportunities Fund Ltd., shareholders of Eco Oro Minerals Corp. (TSX: EOM) ("Eco Oro" or the "Company") who requisitioned the April 25, 2017 shareholders' meeting for the purpose of reconstituting the board of directors of the Company, are pleased to announce that the Ontario Securities Commission has issued an order (at osc.gov.on.ca) setting aside the decision of the Toronto Stock Exchange approving the issuance of 10,600,000 shares on March 16, 2017 to Trexs Investments, LLC, Amber Capital LP, Paulson & Co. Inc. and Anna Stylianides. The effect of the order is that the 10,600,000 shares will have no voting rights, and the issuance thereof will be reversed, unless disinterested shareholder approval is obtained by September 30, 2017.

"We are very pleased with this order of the OSC, and look forward to the shareholders' meeting tomorrow. In light of the fact that we  have submitted proxies representing more than 50,700,000 votes (or approximately 48% of the issued and outstanding shares) in favour of our nominees, we are confident that the Board will be reconstituted at the meeting tomorrow. We would hope that the current Board and management will respect the will of shareholders and not seek to disenfranchise the votes in favour of CHANGE. We look forward to talking to  shareholders at the meeting," said Courtenay Wolfe.

SOURCE Concerned Shareholders of Eco Oro Minerals Corp.

Courtenay Wolfe: [email protected]; 416-505-8555