Ecuador Gold & Copper Corp. announces non-brokered private
placement for US$2,500,000
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
VANCOUVER,
Nov. 26, 2012 /CNW/ - Ecuador Gold
& Copper Corp. (TSX-V: EGX) is pleased to announce that it
intends to undertake a non-brokered private placement (the
"Private Placement") of up to 11,904,762 units (the
"Units") at a price of US$0.21
per Unit for gross proceeds of up to US$2,500,000.
Each Unit is comprised of one common share and
one half of one common share purchase warrant (each whole warrant,
a "Warrant"). Each Warrant will entitle the holder to
acquire one additional common share of the Company at an exercise
price of C$0.35 per common share for
a period of 36 months from the date of issuance.
In connection with the Private Placement, the
Company may pay finder's fees in accordance with the policies of
the TSX Venture Exchange.
The securities issued will be subject to a
four-month hold period from the date of issuance.
The net proceeds of the Private Placement will
be used for exploration and development of the Company's Condor
Gold Project and for general working capital purposes.
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.
SOURCE Ecuador Gold and Copper Corp.