Business
Eco Oro Obtains Final Order for Plan of Arrangement
Eco Oro Obtains Final Order for Plan of Arrangement Canada NewsWire VANCOUVER, O...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\nEco Oro Obtains Final Order for Plan of Arrangement\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, Oct. 12, 2017\n\n\n\nVANCOUVER, Oct. 12, 2017 /CNW/ - Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) announced today that it has obtained a final order (the \"Final Order\") of the Supreme Court of British Columbia approving its previously announced plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the \"Plan of Arrangement\"). With receipt of the Final Order, substantially all material conditions precedent to the Plan of Arrangement are now satisfied and, as a result, the Company expects to implement the Plan of Arrangement in the coming days. \n\nThe Company has received sufficient funds, pursuant to the Basic Subscription Right and Additional Subscription Privilege (as such terms are defined in the Plan of Arrangement) to allocate the entire Interest in the Custody CVR (as defined in the Plan of Arrangement). Accordingly, at this time, the Company does not expect to call on any shareholders participating in the Additional Subscription Privilege to pay, in addition to the amounts already deposited with Kingsdale Advisors, any additional amounts. In accordance with the Plan of Arrangement, any funds received by Kingsdale Advisors from a shareholder in excess of the amount actually required for such shareholder to acquire its Interest in the Custody CVR will be returned to such shareholder shortly following the effective date of the Plan of Arrangement.\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 wholly-owned, multi-million ounce Angostura gold-silver deposit, located in northeastern Colombia.\n\nForward-Looking Information\n\nCertain statements in this press release are \"forward-looking\" statements within the meaning of Canadian and United States securities legislation. All statements, other than state...