Eco Oro Announces Completion of Initial Stage of Pro Rata Private Placement

VANCOUVER, British Columbia, April 09, 2019 (GLOBE NEWSWIRE) -- Eco Oro Minerals Corp. (CSE:EOM) (the "Company" or "Eco Oro") is pleased to announce that it has completed the initial stage (the "Initial Subscription") of the US$28 million first tranche (the "First Tranche") of its previously announced private placement (the "Private Placement"). On completion of the Initial Subscription, the Company issued an aggregate of approximately US$10.5 million of contingent value rights certificates and approximately US$12.1 million of unsecured 0.025% interest-bearing promissory notes due June 30, 2028, for aggregate gross proceeds of approximately US$22.6 million. It is currently anticipated that the balance of the First Tranche will be completed on or about April 30, 2019. The proceeds of the Initial Subscription will be used for working capital needs and to repay outstanding obligations.

Company Profile

Eco Oro Minerals Corp. is a publicly-traded company and its arbitration against the Republic of Colombia is its core focus.

Forward-Looking Statements

This news release includes "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities legislation, including statements with respect to the completion of the Private Placement. 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 necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties 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. 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.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE Eco Oro Minerals Corp.

For further information: Paul Robertson, Chief Executive Officer (Interim)
Tel: +1 604 682 8212, TF: +1 855 682 8212.
CO: Eco Oro Minerals Corp.