Feb 20 (Reuters) - eCobalt Solutions Inc ECS.TO :
* ECOBALT ANNOUNCES COST CONTROL MEASURES IN RESPONSE TO MARKET CONDITIONS
* ECOBALT SOLUTIONS - WHILE LONG-TERM FUNDAMENTALS FOR COBALT REMAIN VERY STRONG, FORECAST PRICES FOR NEAR TERM HAVE DROPPED AS A RESULT OF OVERSUPPLY
* ECOBALT SOLUTIONS - IS TAKING MEASURES TO PRESERVE ITS TREASURY BY REDUCING TOTAL OVERHEAD COSTS
* ECOBALT - WORKFORCE TO BE REDUCED TO ONLY EMPLOYEES ESSENTIAL FOR COMPLETING ALL CRITICAL PATH ITEMS & ONGOING ACTIVITIES AT IDAHO COBALT PROJECT
* ECOBALT SOLUTIONS - CURRENT OVERSUPPLY OF PRODUCT ON MARKET COMING FROM EXCESS COBALT PRODUCTION FROM CONGO AND REFINED SUPPLY FROM CHINA
* ECOBALT SOLUTIONS - WHILE CO CONTINUES TO ADVANCE ICP, NON-ESSENTIAL OPERATING AND CORPORATE EXPENSES WILL BE REDUCED/ELIMINATED
* ECOBALT SOLUTIONS - SEES SUPPLY DEFICIT TO OCCUR IN NEAR TERM FROM GROWING DEMAND FOR ELECTRIC VEHICLES AND COBALT-CONTAINING LITHIUM-ION BATTERIES