ECOMETALS LTD 
By VANCOUVER, BRITISH COLUMBIA - January 10, 2013
Ecometals Limited (the "Company") (TSXV: EC) is pleased to announce that it has entered into an agreement with BalanTrove Management LLC ("BalanTrove"), whereby BalanTrove has agreed to assist the Company in evaluating, structuring and negotiating a potential acquisition of a producing gold mine in South America (the "Transaction").
Under the terms of the agreement with BalanTrove (the "BalanTrove Agreement"), BalanTrove will advise, structure and negotiate the Transaction, on the Company's behalf, with the aim of finalizing the Transaction in the best interests of the Company. The Transaction is yet to be finalized and therefore the identities of the counter parties cannot be publicly revealed at this stage. There is equally no guarantee that a final agreement will be entered into with such parties. The BalanTrove Agreement will terminate on March 1, 2013 but may be extended by agreement between the parties.
The terms of the BalanTrove Agreement envisage a work fee and a transaction success fee, both to be paid in in the form of common shares of the Company (the "Shares"). The work fee comprises the issuance of an aggregate number of Shares having a total value of C$50,000 over the mandate period. The success fee comprises the issuance of an aggregate number of Shares having a total value of C$200,000. The number of Shares to be issued will be based on the volume weighted average trading price of the shares for the thirty-day period immediately before the applicable date of issuance of the Shares (for the work fee) and the execution of definitive written agreements for the Transaction (for the success fee).
The BalanTrove Agreement and the issuance of the Shares under the BalanTrove Agreement are subject to the approval of the TSX Venture Exchange. All Shares issued pursuant to the BalanTrove Agreement will be subject to a four-month statutory hold period beginning on the applicable date of issuance of the Shares.
About Ecometals
Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its interests in manganese, Ecometals also has gold exploration activities in Ecuador and Brazil and significant iron projects in Brazil at grass roots and development planning stages.
About BalanTrove
BalanTrove Management LLC is a New York based advisory firm focused on corporate finance, strategic and legal issues facing small to medium size organizations.
Contact Information
Investors:
William Lamarque |
Andrew Robertson |
Information:
For Information Regarding BalanTrove Management, LLC: |
This news release contains forward-looking information and forward
