Deal sells shares at $0.11 apiece to fund exploration and development
By Devika Patel
Knoxville, Tenn., April 24 - Ecuador Gold and Copper Corp. said it completed a $1 million private placement of stock.
The company sold 9,090,909 common shares at $0.11 per share.
Proceeds will be used for exploration and development of the company's Condor Gold Project and for general working capital purposes.
The capital pool company is based in Calgary, Alta.
| Issuer: | Ecuador Gold and Copper Corp.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 9,090,909
|
| Price: | $0.11
|
| Warrants: | No
|
| Settlement date: | April 24
|
| Stock symbol: | TSX Venture: EGX
|
| Stock price: | $0.07 at close April 23
|
| Market capitalization: | $6.99 million
|
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