Business
Eco Oro Provides Update to Shareholders
Eco Oro Provides Update to Shareholders Canada NewsWire VANCOUVER, May 24, 2017 ...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\nEco Oro Provides Update to Shareholders\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, May 24, 2017\n\n\n\n\nDirectors, Officers and Employees demonstrate their clear commitment to the Company, seeking to focus Eco Oro's precious resources on pursuing the arbitration claim against Colombia and not on responding to litigation commenced by the Dissidents for tactical advantage in their quest for control of the Board.\nDirectors and Officers of Eco Oro agree not to exercise any of the validly issued and shareholder authorized options granted to them on May 8, 2017 until after the conclusion of the 2017 annual general and special meeting of shareholders.\nTrexs' board appointee, David Kay, to continue to receive no remuneration from the Company as a director, including options.\nEco Oro receives extension of default waiver from Trexs.\n\n\n\nVANCOUVER, May 24, 2017 /CNW/ - Eco Oro Minerals Corp. (\"Eco Oro\" or the \"Company\") (TSX: EOM) responds today to unfounded attacks on the Company's recent grant of options (the \"Options\") to key employees, officers and directors. The Company issued the Options in accordance with the existing shareholder-approved option plan and with a view to protect the Company's most significant asset, the claim against the Government of Colombia pursuant to a request for arbitration filed with the World Bank's International Centre for Settlement of Investment Disputes (the \"Arbitration\"). In order to avoid any controversy, the officers and directors of Eco Oro have agreed that they will not exercise any of the 2,150,000 Options recently granted to them by the Company on May 8, 2017 until after the conclusion of the 2017 annual general and special meeting of shareholders of the Company (the \"Meeting\"). \n\nA group of shareholders, led by Courtenay Wolfe and Harrington Global Opportunities Fund Ltd. (the \"Dissidents\") have asserted in a news release dated May 18, 2017, that the issuance of the Options was at odds with the Company's past practices and its only purpose was to entrench the b...