Echo Energy Settles Deferred Payments with Equity Issue

Echo Energy (GB:ECHO) has released an update.

Echo Energy PLC, a company focusing on natural resources in Latin America, has issued over 1.5 billion shares to pay off deferred salaries and fees to its board members and consultants. The shares were allocated to several individuals and entities, including the largest portion to Ossian Energy, at a nominal price of 0.0033p each. The transaction is set to finalize with the shares being admitted to trading on the AIM market of the London Stock Exchange.

For further insights into GB:ECHO stock, check out TipRanks’ Stock Analysis page.