VANCOUVER, April 24, 2017 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX: EOM) today announced that the Supreme Court of British Columbia (the "Court") dismissed a petition brought by Harrington Global Opportunities Fund Ltd. and Courtenay Wolfe (the "Dissidents"). The Court found in favour of Eco Oro on all matters and dismissed the petition, with costs, in favour of Eco Oro. Additionally, the Ontario Securities Commission (the "OSC") released an order today that, among other things, overturns the March 10, 2017 decision of the Toronto Stock Exchange (the "TSX") to grant conditional approval for the issuance of common shares to certain shareholders of Eco Oro.
In a supplementary ruling, the Court found that the OSC's decision and the decision of the Court, were at odds and that it was not realistic that the annual general and special meeting of the Company proceed as planned on April 25, 2017 (the "Meeting"). The Court adjourned the Meeting to a date to be set by the Board prior to September 30, 2017, to allow the parties an opportunity to take whatever steps they deem appropriate to resolve the conflict between the OSC's decision and the orders of the Court.
Eco Oro will provide further information to shareholders as it becomes available.
Company Profile
Eco 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.
