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Ecometals Pursuing Acquisition of South American Gold Mine; Shares Up 29%

Ecometals Limited (EC.V) has entered into an agreement with BalanTrove Management LLC, whereby BalanTrove has agreed to assist the company in evaluating, structuring and negotiating a potential acquisition of a producing gold mine in South America.

Under the terms of the agreement, BalanTrove will advise, structure and negotiate on the company's behalf, with the aim of finalizing a transaction in the best interests of the company.

As the transaction is yet to be finalized, the identities of the counter parties cannot be publicly revealed at this stage, Ecometals said.

EC shares gained a penny to $0.045 on volume of nearly 11,000.

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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.

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