Toronto, Ontario--(Newsfile Corp. - September 22, 2015) - Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company"), is pleased to announce that the Company's Interim CEO, Mr. Heye Daun, has accepted the role as the Company's Chief Executive Officer and President effective as of August 31, 2015. Mr. Daun was elected as a Director of the Company at the annual general meeting of shareholders on June 18, 2015 and was appointed as Interim CEO on June 29, 2015. Mr. Daun now replaces Mr. Glenn Laing, the previous President, as the Company's new President and Chief Executive Officer.
In addition, the Company has incorporated a new Ecuador subsidiary named Energy Operation Ecuador S.A. ENOPECSA, which will now hold ownership of all of the Company's other Ecuadorean subsidiaries and assets. This change in corporate holding structure allows the Company to apply under Ecuador law for a category change for its mineral concessions which, if approved, would result in a cost effective extension of tenure of the mineral titles.
Mr. Daun stated,
"Ecuador Gold & Copper Corp. has recently undergone a significant transition with the appointment of a new Board of Directors and Officers of the Company. This was followed by an extensive review of the Companies' assets and operations by the incoming Interim CEO with the view of formulating a new business plan and seeking on-going funding for the execution thereof by shareholders. This process is well underway, and the Company is excited to announce that a significant majority of shareholders are supportive of our plans, and are continuing to fund the operations of the Company. We are currently working on formalising these plans and we look forward to updating our shareholders of our planned activities going forward.
I also wish to take this opportunity to thank Glenn Laing, the outgoing President & CEO for his assistance during the transition period and on-going support for the Company. Glenn was the founding CEO and strategic driving force behind the creation and growth of the companies' assets. I appreciate the on-going access to Glenn's knowledge and experience and I look forward to working with Glenn as a supportive shareholder of the Company going forward."
This company is definately in good hands and its a safe play. Mr Daun will built value for shareholder. Looking forward for the corporate update and the future of EGX.
GLTA
RM