Early Warning Report Issued Pursuant to National Instrument 62-103
Acquisition of Shares of Ecuador Gold and Copper Corp.
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS/
VANCOUVER,
Nov. 28, 2012 /CNW/ - Ecuador Gold
and Copper Corp. (the "Company"). This press release
is being disseminated as required by National Instrument 62-103
The Early Warning System and Related Take Over Bids and Insider
Reporting Issues in connection with the filing of an early
warning report (the "Early Warning Report") regarding the
acquisition of the Company's securities by Aura International
Services Ltd. ("Aura") of Wickhams Cay 1, Road Town,
Tortola, BVI.
As a result of a non-brokered private placement
(the "Private Placement"), Aura acquired securities of the
Company.
Aura acquired 11,904,762 common shares and
5,952,381 common share purchase warrant of the Company pursuant to
the Private Placement, as a result of the Company's subscription
for 11,904,762 units (each a "Unit") at a price of
US$0.21 per Unit (approximately
C$0.21/Unit). Each Unit
consisted of one common share and one half of one share purchase
warrant (a "Warrant"). Each Warrant entitles the holder to
acquire an additional share (a "Warrant Share") of
the Company for a period of three years from the date of issuance
at an exercise price of C$0.35 per
Warrant Share. Of the Units acquired by Aura, 1,389,730 Units are
held in escrow pending final approval of the TSX Venture
Exchange.
Accordingly, Aura beneficially owns 11,904,762
common shares and 5,952,381 Warrants (the "Securities") of
the Company, representing approximately 11.06% of the issued and
outstanding voting securities of the Company on a non-diluted basis
and 15.73% of the issued and outstanding securities of the Company,
assuming exercise of the 5,952,381 Warrants held by the
Company.
The Securities were acquired for investment
purposes and the Company may increase or decrease its beneficial
ownership or control depending on market or other conditions.
A copy of the Early Warning Report may be found
on www.SEDAR.com
Cautionary Note
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 Ecuador Gold and Copper Corp.