TORONTO, ONTARIO -- (Marketwire) -- 03/15/11 -- Ecometals Limited (TSX VENTURE: EC)(BERLIN: GDQ)(FRANKFURT: GDQ) (the 'Company') is pleased to announce that it has entered into an agreement (the 'Agreement') with Meadowbank Asset Management Inc./Gestion D'Actif Meadowbank ('Meadowbank') for the provision of investor relations services. The Agreement is effective for a period of 12 months beginning as of March 10, 2011, and is subject to the approval of the TSX Venture Exchange (the 'TSXV').
Meadowbank, based in Toronto, Ontario, is a privately owned Canadian portfolio manager and exempt market dealer registered in the provinces of Ontario and Quebec. Meadowbank does not hold any securities in the Company; however, certain directors, officers, principals and employees of Meadowbank hold in the aggregate, directly and indirectly, 597,200 common shares and 330,000 warrants in the Company, representing approximately 1% of the outstanding common shares of the Company on a fully diluted basis. Previously, investor relations services were provided to the company by RK Equity Advisors, LLC pursuant to an agreement that terminated on December 31, 2010.
Pursuant to the Agreement, Meadowbank shall provide investor relations services, including but not limited to:
-- the utilization of investor and public relations strategies to raise
awareness, target defined audiences, and enhance the profile of the
Company; and
-- the promotion of the Company as an investment opportunity.
Subject to TSXV approval of the Agreement, the Agreement provides that the Company will pay Meadowbank a monthly fee of CDN$6,000 plus applicable taxes payable at the end of each month during the term of the Agreement. The total cost of the Agreement to the Company during the 12 month term will be CDN$72,000 plus approved expenses, unless earlier terminated.
About Ecometals
Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its gold exploration activities in Ecuador, Ecometals also has significant manganese and iron projects in Brazil at grass roots and development planning stages.
About Meadowbank
Established in 2006, Meadowbank Asset Management Inc. is a privately owned Canadian portfolio manager and exempt market dealer registered in the provinces of Ontario and Quebec.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company obtaining TSXV approval of the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the failure to obtain the required above-mentioned approval. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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.
Contacts:
Ecometals Limited - Investors
William Lamarque
Chief Executive Officer
wglamarque@ecometalslimited.com
Ecometals Limited - Investors
Andrew Robertson
Chief Financial Officer
andrewrobertson@ecometalslimited.com
Ecometals Limited - Information
Enquiries: info@ecometalslimited.com
www.ecometalslimited.com
Meadowbank Asset Management Inc.
Rawn Lakhan
President & Chief Executive Officer
416-864-2264
rlakhan@meadowbankasset.com
