Listing: TSX Venture Exchange ("EEI.V")
Issued Common Shares: 60,208,086
TORONTO, Feb. 2 /CNW/ - Echo Energy Canada Inc. ("Echo Energy") announces that Salvatore Fuda, former Chairman and a director of Echo Energy, indirectly through Exclusive Asset Management Inc. ("Exclusive"), has acquired 11,016,618 common shares of Echo Energy at a price of $0.02 per share pursuant to a private agreement with one shareholder. After completing the share purchase, Exclusive Asset Management will hold 22,567,731 common shares, representing 37.48% of the outstanding common shares of Echo Energy.
Exclusive is making the acquisitions to increase its ownership of Echo Energy for investment purposes and may acquire ownership or control over additional common shares of Echo Energy depending on market conditions and other strategic considerations.
About Echo Energy Canada Inc.
Echo Energy Canada Inc. is a publicly traded energy company with revenue producing natural gas production operations near Port Burwell Ontario, Canada on the shores of Lake Erie.
Statements in this news release that are not historical facts, including statements about plans and expectations regarding properties, reserves, transactions and opportunities, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing gas and commodity prices and currency exchange rates, demand for gas, lack of success of future exploration and development, competition and other factors discussed from time to time in the company's filings with the Ontario Securities Commission.
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 Echo Energy Canada Inc
For further information: For further information: Charles Edey, President, at 1-877-396-3540, firstname.lastname@example.org, http://www.echoenergycanada.com