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Eco Oro Announces Settlement Agreement with Shareholders and Appointment of a New Board
Eco Oro Announces Settlement Agreement with Shareholders and Appointment of a New Board ...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\nEco Oro Announces Settlement Agreement with Shareholders and Appointment of a New Board\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 1, 2017\n\n\n\nVANCOUVER, Aug. 1, 2017 /CNW/ - Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) announced that a comprehensive settlement agreement (the \"Agreement\") was reached yesterday between the Company and thirteen shareholders representing approximately 66.3% of the issued and outstanding common shares of the Company entitled to vote at the upcoming annual general and special meeting of shareholders (the \"2017 Meeting\"). These shareholders include Trexs Investments, LLC (\"Trexs\"), Courtenay Wolfe, Harrington Global Opportunities Fund and Harrington Global Limited  (\"Harrington\" and together with Courtenay Wolfe, the \"Shareholder Group\").  The Agreement has been approved by the Company's board of directors and upon implementation will resolve all outstanding litigation relating to the Company's board composition, investments by Trexs and other shareholders and the 2017 Meeting. The Agreement unites the shareholders of Eco Oro in pursuit of its arbitration claim against the Republic of Colombia (the \"Arbitration Claim\").\n\nUnder the terms of the Agreement, which will be filed on SEDAR, a new five member board of the Company has been constituted and is comprised of Trexs' nominees, David Kay and Anna Stylianides, the Shareholder Group's nominees, Courtenay Wolfe and Peter McRae, and an independent director, Lawrence Haber, selected by the Shareholder Group and Trexs pursuant to the terms of the Agreement (the \"New Board\").  David Kay and Courtenay Wolfe have been named co-executive chairs of the New Board. The Company will seek approval of the New Board at the 2017 Meeting (which will be held no later than September 30, 2017), at which meeting shareholders will also be asked to consider and approve the following resolutions (the \"Resolutions\"):\n\n\na plan of arrangement under the Business Corporations Act (British Columbia) that wi...