Eco Oro Minerals Notifies Colombian Government of Investment Dispute

About this update from Eco Oro Minerals Corp.

[{"type":"text","content":"\n\n\n\nEco Oro Minerals Notifies Colombian Government of Investment Dispute\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nEco Oro Minerals Notifies Colombian Government of Investment Dispute\nCanada NewsWire\nVANCOUVER, March 7, 2016\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES./\n\n\n\nVANCOUVER, March 7, 2016 /CNW/ - Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) announces that the Company has formally notified the Government of Colombia (the \"Government\") of the existence of a dispute between Eco Oro and the Government under the Free Trade Agreement between Canada and Colombia (the \"Free Trade Agreement\").\n\nThe dispute has arisen out of the Government's measures and omissions, which have directly impacted the rights granted to Eco Oro to explore and exploit its Angostura Project. The measures and omissions that have affected Eco Oro include (without limitation) the Government's unreasonable delay in clarifying the limits of the Santurbán Páramo and whether it overlapped with the Angostura Project and its persistent failure to provide clarity as to Eco Oro's right to continue developing its mining project in light of further undefined requirements and later as a consequence of the Constitutional Court's decision of February 8, 2016, which has broadened the prohibition of mining activities in páramo areas.\n\nEco Oro remains open to continue amicable discussions with the Government with a view to the prompt settlement of this dispute. Absent an acceptable settlement with the Government during the next six months, Eco Oro has the option of submitting the dispute to international arbitration and seeking a declaration of a breach of the Free Trade Agreement and monetary compensation for the damages suffered due to that breach.\n\nCompany Profile\n\nEco Oro Minerals Corp. is a publicly-traded precious metals exploration and development company with a portfolio of projects in Colombia. Eco Oro has been focused on its w...

More updates from Eco Oro Minerals Corp.