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Eco Oro Minerals announces investment by Tenor Capital
Eco Oro Minerals announces investment by Tenor Capital Eco Oro Minerals announces ...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\nEco Oro Minerals announces investment by Tenor Capital\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\nEco Oro Minerals announces investment by Tenor Capital\nCanada NewsWire\nVANCOUVER, July 22, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n\n\n\nVANCOUVER, July 22, 2016 /CNW/- Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) is pleased to announce that it has entered into an investment agreement (the \"Agreement\") with Trexs Investments, LLC (the \"Investor\"), an entity managed by Tenor Capital Management Company, L.P., with respect to an aggregate investment in the Company of US$14 million (the \"Investment\"). Pursuant to the Agreement, the proceeds of the Investment will be used by the Company to fund the Company's arbitration with the Government of Colombia under the Free Trade Agreement between Canada and Colombia (the \"Arbitration\").\n\n\"With this investment, Eco Oro will be completely funded to the extent we are unable to resolve the dispute amicably with the Government of Colombia and, instead, decide to move forward with arbitration,\" said Mark Moseley-Williams, President and Chief Executive Officer of the Company.  \"Now the Company will be able to maintain its obligations for the foreseeable future as it continues discussions with the Government of Colombia while protecting the interests of shareholders.\"\n\nThe Investment, which is subject to customary terms and conditions, is going to occur in two tranches.  The first tranche (\"Tranche 1\"), which closed concurrently with the execution of the Agreement, is for US$3 million and the second tranche (\"Tranche 2\") is for US$11 million.  The Company has issued 10,608,225 common shares, which represents 9.99% of the Company's issued and outstanding shares, to the Investor pursuant to Tranche 1.  \n\nThe Company will call a meeting of its shareholders to obtain shareholder approval for the issuance of comm...