American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 2.080

-1.0%

Jan 23 9:30 AM EST

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To: Eric O. who wrote (1730)	2/19/1998 9:53:00 AM
From: Duncan	Read Replies (1) of 2841

<< I checked with Cohig today and they stated that the EIFH has another 60 days to pay back ECO.>> I spoke with Dave Norris, ECO's CFO, yesterday. Dave mentioned that EIFH extended the February 18th deadline by 90 days...which puts us into May. Everything is moving according to plan...per Dave...and EIFH should be taking the request for increasing EIF's authorized shares to it's shareholders via proxy in April. Once approved, EIF will convert the $17.9 million of debt payable to ECO into equity...and an outside investment group will buy the equity off ECO at a premium. He appears very confident this will happen and said the terms of deal with this third party are mostly complete. Duncan

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