CORPORATE PROFILE

East Coast Vulcan Mining Corporation (the Company or ECVMC) was incorporated and registered with the Philippine Securities and Exchange Commission (SEC) on January 13, 1953 under the name “Vulcan Manufacturing Corporation” and was listed in the Philippine Stock Exchange (PSE) on August 31, 1970. On June 15, 1977, the Company first amended its articles of incorporation and changed its name to “Vulcan Industrial & Mining Corporation”. Thereafter, the Company again amended its articles of incorporation and changed its name to “East Coast Vulcan Corporation” on May 29, 2023, and to “East Coast Vulcan Mining Corporation” on April 19, 2024. The Company’s corporate life was extended for another 50 years on January 13, 2003. The Company's registered address is at the 15th Floor, High Rise Pacific Star Building, Sen. Gil Puyat Avenue, Makati City, Metro Manila, Philippines.

The Company is involved in finding, developing and producing oil and gas reserves and other mineral properties. The Company is a participant in several Service Contracts (SCs), Mineral Production Sharing Agreements (MPSAs) and Geophysical Survey and Exploration Contracts (GSECs) entered with the Philippine Government, through the Department of Energy (DOE). 

On July 1, 2021, the Company entered into a Memorandum of Agreement (MOA) with the majority stockholders of East Coast Mineral Resources Company Incorporated (ECMRCI) represented by Hilario G. Pagauitan and Sofia G. Pagauitan (the HGP Group) for the latter’s subscription to up to 5,180,000,000 shares of ECVMC arising from an increase in authorized capital stock.

At the shareholders’ meeting held on November 8, 2021, the shareholders approved the said increase of the authorized capital stock of the corporation from 4 Billion Pesos (P4,000,000,000.00) to 12 Billion Pesos, or an increase in the amount of 8 Billion Pesos (P8,000,000,000.00), for subscription by, among others, the group led by Hilario G. Pagauitan and Sofia G. Pagauitan (hereinafter referred to as “the HGP Group”). The subscription to the increase of capital stock will be paid by the HGP Group through the fold-in of 99.99% ownership of East Coast Mineral Resources Company Inc. (ECMRCI) into the Company, based on an approved value of Php 5.18 billion. 

On May 29, 2023, the SEC approved the Company’s application for the amendment of its Articles of Incorporation for the (i) change of its corporate name to “East Coast Vulcan Corporation,” (ii) change of number of directors to thirteen, and (iii) change of principal office address to the 4th floor, Pacific Star Building, Low Rise Tower, Makati Avenue corner Senator Gil Puyat Avenue, Makati City, Philippines, 1209. The SEC likewise approved the Company’s application to increase its authorized capital stock from 4 Billion Pesos (P4,000,000,000.00) to 12 Billion Pesos (P12,000,000,000.00) on the same date. 

The 5.18 billion (5,180,000,000) common shares were issued in exchange for 100% ownership of ECMRCI, a corporation engaged in mining operations. Currently, the application for the Certificate Authorizing Registration (“CAR”) out of the said exchange is still being processed with the Bureau of Internal Revenue.

Further, upon the approval of the Securities and Exchange Commission of the capital increase, the Company filed an application for the listing of the attendant shares with the Philippine Stock Exchange. The contemplated approval of the said business combination transaction will result in ECMRCI becoming a wholly owned subsidiary of the Company and thus will allow the Company to consolidate ECMRCI’s operations into its books.

The Company is all set with its plans to revitalize its operations and structure to create a more efficient and profitable mining company. In line with its plans and future developments, the management is in discussion with both foreign and local partners and investors, given the prospects of more opportunities for the Company and its stockholders. With the successful acquisition of 100% of ECMRCI and the approved increase in capital stock of the Company, the Company holds the operation of two profitable mining areas in the Province of Dinagat Island.

At its annual meeting in September 2023, the stockholders approved the amendment to the Company’s Articles of Incorporation to increase the authorized number of ECVMC shares from 12,000,000,000 to 120,000,000,000 shares, while simultaneously decreasing the share par value from PhP1.00 to PhP0.10, and thus, maintaining the stockholders’ position. This move to amend the par value vis-à-vis the number of shares is more beneficial to the Company stockholders as it will increase liquidity and trading in the shares, and at the same time places a milestone on the Company’s direction as a significant and determined mining company with the aim of declaring dividends in the coming periods.

On April 19, 2024, the Securities and Exchange Commission approved the Company’s application for the amendment of its Articles of Incorporation for the (i) change of its corporate name to “East Coast Vulcan Mining Corporation,” and (ii) change of principal office address to the 15th Floor, High Rise Pacific Star Building, Sen. Gil Puyat Avenue, Makati City, Metro Manila, Philippines. 

MISSION, VISION AND VALUES

 In preparation for a backdoor listing of NBS, the company obtained stockholders approval in 2013 to change its primary purpose from mining to retail. However, because the backdoor listing did not push through, and the Corporation currently has no operations and no employees, it will endeavor to comply as soon as it resumes operations in order to be more relevant to the business direction of the company.