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TORONTO, March 3, 2014 /CNW/ - Pursuant to private placements of Ecuador Gold & Copper Corp. (TSX-V: EGX) (the "Company"), which closed on August 23, 2013 and September 23, 2013, the Company issued to Aura International Services Ltd. ("Aura") an aggregate of 26,603,157 common shares and 26,603,157 share purchase warrants (each a "Warrant") to purchase an additional 26,603,157 common shares of the Company at a price of US$0.075 per common share.
The Company announces 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 16,666,666 warrants for total gross proceeds to the Company of US$1,250,000 in December 2013 and January 2014, as further described in the Company's news releases dated December 16, 2013 and January 15, 2014.
Aura now holds a total of 113,063,588 common shares of the Company, representing approximately 50.9% 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.
SOURCE Ecuador Gold and Copper Corp.
