Ecuador investor Aura exercises 8.33 million warrants
Ecuador investor Aura exercises 8.33 million warrants
2014-01-17 17:02 ET - News Release
Mr. Glenn Laing reports
EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103 EXERCISE OF WARRANTS OF ECUADOR GOLD AND COPPER CORP.
On Dec. 4, 2013, Ecuador Gold and Copper Corp. completed the final tranche of a larger non-brokered private placement sales of up to $3.25-million of up to an aggregate of 43,333,333 units of the company at a price of 7.5 U.S. cents per unit to Aura International Services Ltd. of Wickhams Cay 1, Road Town, Tortola, BVI. Each unit is composed of one common share and one common share purchase warrant of the company. Each warrant entitles the holder to acquire a share at a price 7.5 U.S. cents per share until Sept. 15, 2014. On Jan. 15, Aura exercised 8,333,333 of the warrants and paid the company $625,000 (U.S.).
As a result of the exercise of warrants, Aura now holds 106,396,222 common shares of the company, which represent approximately a 49.4-per-cent interest in the company, undiluted.
The common shares acquired on the exercise of the warrants were acquired for investment purposes, and Aura may increase or decrease its beneficial ownership or control in the company depending on market or other conditions.
A copy of the early warning report may be found on SEDAR.
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