10:26:10 EDT Fri 29 Mar 2024
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or Name
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Eco Oro Minerals Corp
Symbol EOM
Shares Issued 106,188,435
Close 2016-09-28 C$ 0.22
Market Cap C$ 23,361,456
Recent Sedar Documents

Eco Oro gains ISS, Glass Lewis support for share issue

2016-09-29 10:57 ET - News Release

Ms. Anna Stylianides reports

LEADING INDEPENDENT ADVISORY VOTING FIRMS RECOMMEND ECO ORO SHAREHOLDERS VOTE FOR THE RESOLUTIONS AT THE UPCOMING SHAREHOLDER MEETING

Institutional Shareholder Services and Glass, Lewis & Co., which provide independent voting recommendations to institutional investors, have both recommended that Eco Oro Minerals Corp.'s shareholders vote for the resolutions to be considered by shareholders at Eco Oro's shareholder meeting to be held on Oct. 13, 2016. The meeting is being held to seek shareholder approval for the issuance of common shares pursuant to the second tranche of a private placement.

Anna Stylianides, executive chairperson of Eco Oro, stated, "We are very pleased that the two leading independent proxy voting firms recognized the benefits of the private placement for our shareholders and have recommended that shareholders vote for the resolutions to be considered at the meeting."

ISS concluded that, despite the significant price discount and quite a high dilution, a vote for is warranted as the use of proceeds is reasonable, the auditor has indicated going concern issues and the need for financing is genuine.

Glass Lewis concluded that it believes the proposed share issuance pursuant to the private placement is most likely the preferable option for all shareholders, including disinterested shareholders.

The board of directors of Eco Oro recommends that shareholders vote for the resolutions to be considered at the meeting.

Your vote is important. Vote today.

How to vote

To ensure that your vote is received in time, shareholders are encouraged to vote using the Internet or telephone.

Registered shareholders may vote by the following methods:

  • Internet: on the Investor Vote website;
  • Telephone: 1-866-732-8683 (toll-free in Canada and United States) or 1-312-588-4290 (international);
  • By mail, using the return envelope in your meeting package;
  • In person at the meeting.

Shareholders who hold Eco Oro shares through a bank or other intermediary will have different voting instructions and should carefully follow the voting instructions provided to them.

Shareholders are reminded to vote their proxy for the resolutions prior to the proxy voting deadline of 10 a.m. (Vancouver time) on Oct. 11, 2016.

Special meeting

The meeting is scheduled to be held at the offices of Blake, Cassels & Graydon LLP at Suite 2600, 595 Burrard St., Vancouver, B.C., at 10 a.m. (Vancouver time), on Oct. 13, 2016.

Your vote is important regardless of the number of shares you own. Eco Oro encourages shareholders to read the meeting materials in detail. A copy of the management information circular is available on Eco Oro's website and under Eco Oro's profile on SEDAR.

Shareholder questions

Shareholders who have questions regarding the meeting or require assistance with voting may contact Eco Oro's proxy solicitation agent, Laurel Hill Advisory Group, toll-free at 1-877-452-7184 or international at 1-416-304-0211 outside Canada or the United States, or by e-mail at assistance@laurelhill.com.

Company profile

Eco Oro Minerals 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, multimillion-ounce Angostura gold-silver deposit located in northeastern Colombia.

We seek Safe Harbor.

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