Ecuador Gold and Copper Corp. commences trading on the TSX Venture Exchange with trading symbol "EGX"

/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, July 12, 2012 /CNW/ - Ecuador Gold & Copper Corp. (TSX-V: EGX), formerly Enterprise Capital Corporation, (the "Company") is pleased to announce that the Company has met the requirements to be listed on the TSX Venture Exchange as a Tier 2 Company. Therefore, effective at the opening on Thursday July 12, 2012, the common shares of Ecuador Gold & Copper Corp will commence trading on the TSX Venture Exchange with the trading symbol - "EGX". The company is classified as a mineral exploration company

Ecuador Gold & Copper Corp will have 95,697,416 common shares issued and outstanding, 24,813,025 warrants outstanding and options to acquire 4,711,355 common shares outstanding. 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 and the executive management 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

FORWARD LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the satisfaction of the issuance of the final exchange bulletin in respect of the Transaction and the listing of the Common Shares. The final exchange bulletin will not be issued if the Exchange determines that the Company has not met the conditions set out in the Exchange's conditional approval letter.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The material factors and assumptions include the ability of the Company to meet the conditions for listing of the Exchange. The Company cautions the reader that the above list of risk factors is not exhaustive.

The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

For further information:

Carson Phillips
Vice-President, Corporate Development
Telephone: (604) 569-0721
E-mail: cphillips@ecuadorgoldandcopper.com

Profil de l'entreprise

Ecuador Gold and Copper Corp.

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