VANCOUVER, BC / ACCESSWIRE / May 25, 2016 / Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company") is pleased to announce that it has entered into agreements to settle an aggregate of C$424,330 in outstanding debt (the "Debt") owed to creditors in connection with C$365,581 owing for drilling, exploration, and consulting as well as up to C$58,749 owing for management's expenses and services provided to the Company. The Company is proposing to settle the Debt by issuing an aggregate of 1,088,027 common shares (the "Debt Shares") of the Company at a deemed price of C$0.39 per Debt Share. All Debt Shares issued to settle the Debt will be subject to a four month hold period and the issuance of the Debt Shares will be subject to approval of the TSX Venture Exchange.
About Ecuador Gold and Copper Corp.
Ecuador Gold and Copper Corp. is a Canadian exploration and mining company focused on its gold and copper mineral properties located in the Province of Zamora-Chinchipe in southern Ecuador. The Company has completed a Preliminary Economic Assessment of its Santa Barbara Gold and Copper Project dated May 29, 2015, and is currently listed on the TSX Venture Exchange under the symbol "EGX". For additional information, please visit us at www.ecuadorgoldandcopper.com.
For further information please contact:
Heye Daun
President, Chief Executive Officer and Director
Telephone: +1-604-687 2038 (Vancouver Office)
Email: [email protected]
Cautionary Note
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SOURCE: Ecuador Gold & Copper Corp.