May 2 (Reuters) - Echo Resources Ltd (EAR) :
- ANNOUNCES PLACEMENT TO RAISE UP TO $15 MILLION AT $0.13 PER SHARE
- UP TO $3 MILLION PROCEEDS RECEIVED FROM SPP WILL BE APPLIED TO FURTHER EXPLORATION ACTIVITIES AT YANDAL GOLD PROJECT
- ECHO'S LARGEST SHAREHOLDER NORTHERN STAR RESOURCES LTD INTENDS TO SUBSCRIBE FOR UP TO $3.4 MILLION OF PLACEMENT
- ALSO ANNOUNCES SHARE PURCHASE PLAN (SPP) FOR ELIGIBLE SHAREHOLDERS TO RAISE UP TO $3 MILLION