Ecometals Limited (EC.V) has completed a previously announced private placement of convertible debentures consisting of 120 units of securities of the company at a price of US$1,000 per unit for proceeds of US$120,000.
The company will use $50,000 of the proceeds for general working corporate purposes with the remainder of the proceeds earmarked to pay (a) legal fees; (b) labour related obligations in Ecuador; (c) regulatory taxes and environmental work in Ecuador; (d) for rent payments due on the Macapa office as well as related payments to service providers.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
