VANCOUVER, July 9, 2018 /CNW/ - Eco Oro Minerals Corp. (CSE:
EOM) (the "Company") is pleased to announce that, on
July 6, 2018, it signed a binding
asset purchase agreement (the "Agreement") with Sociedad Minera de
Santander S.A.S. ("Minesa") to sell to Minesa Eco Oro's interests
in certain mining and land titles located near Minesa's
project in the Santander Department of Colombia, along with
technical information and ancillary assets relating to the mining
licenses. The two mining titles included in the Agreement are
mineral claims 13921 and 0127-68. These titles are unrelated to
Eco Oro's Angostura Project and
Concession 3452, which are the subject of Eco Oro's ongoing arbitration against the
Republic of Colombia and in
relation to which Minesa has acquired no interest.
Pursuant to the terms of the Agreement, Minesa will pay the
Company an aggregate purchase price of US$5,000,000 upon completion of the transaction.
Completion of the asset purchase agreement is subject to the
satisfaction of certain conditions precedent.
Eco Oro Minerals Corp. is a publicly-traded company and its
arbitration against the Republic of Colombia is its core focus.
This news release includes "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, included herein are forward-looking statements that involve
known and unknown risks and uncertainties. Forward-looking
statements are generally, but not always, identified by the words
"expects", "plans", "anticipates", "seeks", "claims", "asserts",
"in the event", "if", "believe", "assets", "position", "intends",
"envisages", "assumes", "recommends", "estimates", "approximate",
"projects", "potential", "indicate" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Forward-looking statements are necessarily based
upon the current belief, opinions and expectations of management
that, while considered reasonable by the Company, are inherently
subject to significant litigation, business, economic, competitive,
political and social uncertainties, risks and other contingencies.
Many factors could cause the Company's actual results to differ
materially from those expressed or implied in the forward looking
statements. These factors include the risk factors set out under
the heading "Risk Factors" in the Company's Annual Information Form
dated March 27, 2017, which is
available on SEDAR at www.sedar.com. Although management of the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. The
Company does not undertake to update any forward-looking statements
or forward-looking information that are incorporated by reference
herein, except in accordance with applicable securities laws.
Investors are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty therein.
Forward-looking statements are based on assumptions that the
Company believes to be reasonable.
The Canadian Securities Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this news
SOURCE Eco Oro Minerals Corp.