Ecuador Gold and Copper Corp. Files Interim Financial Statements
26 August 2012 - 3:56PM
PR Newswire (Canada)
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VANCOUVER, Aug. 28, 2012 /CNW/ - Ecuador Gold & Copper Corp. ,
formerly Enterprise Capital Corporation, (the "Company")
is pleased to announce that it has filed on SEDAR (www.SEDAR.com)
the unaudited interim financial statements for the three and six
month period ended June 30, 2012 (the "Interim Financial
Statements") and the related Management's Discussion and Analysis
(the "MD&A"). These interim financial statements relate to
those of Enterprise Capital Corporation ("Enterprise"). On July 10,
2012 Enterprise completed its reverse takeover transaction of
Ecuador Capital Corp (the "Transaction"), which constituted the
qualifying transaction of Enterprise pursuant to the policies of
the TSX Venture Exchange. As a consequence of the Transaction,
Enterprise now carries on the business of Ecuador Capital.
Enterprise also changed its name to Ecuador Gold & Copper Corp.
With the completion of the Transaction, Ecuador Gold & Copper
Corp has 95,697,416 Common Shares issued and outstanding (on an
undiluted basis), 24,813,025 warrants outstanding, options to
acquire 4,711,355 Common Shares outstanding and convertible
debentures outstanding in the amounts of USD$1,000,000 at a
conversion rate of USD$0.25/unit and CDN$150,000 at a conversion
rate of CDN$0.25/unit, which each unit consisting of one Common
Share and one-half of one common share purchase warrant, and each
such whole warrant entitles the holder to purchase one Common Share
at a price of $0.35 during the period before expiry on August 31,
2013. The Debentures mature on August 31, 2013. The principals of
the Company collectively hold 23,335,000 Common Shares and
4,271,355 stock options of the Company all of which are subject to
a Tier 2 Value Security Escrow Agreement. In addition, 750,000
Common Shares are held by non-principals of the Company which are
also subject to a Tier 2 Value Security Escrow Agreement. The Board
of Directors of the Company are as follows: Glenn Laing, Carson
Phillips, James Hutton and James Xiang. In addition, the Company's
Executive Management Team is as follows: -- Glenn Laing -
President, Chief Executive Officer and Chief Operating Officer --
Carson Phillips - Vice-President, Corporate Development -- Angel
Law - Chief Financial Officer and Corporate Secretary -- Mit Tilkov
- VP Exploration Summaries of the biographies for all of the
directors and executive management of the Company are set out on
the Company's website at www.ecuadorgoldandcopper.com. Cautionary
Note Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Ecuador Gold and Copper Corp. CONTACT:
Carson PhillipsVice-President, Corporate DevelopmentTelephone:
(604) 569-0721E-mail: cphillips@ecuadorgoldandcopper.com
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