ECR Minerals plc Partial Conversion of Loan
17 July 2015 - 11:58PM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
PARTIAL CONVERSION OF LOAN
LONDON: 17 JULY 2015 - ECR Minerals plc announces the issue and
allotment of 90,183,357 new ordinary shares of 0.001 pence each in
the Company ("Ordinary Shares") at a price of 0.0709 pence per
share pursuant to the conversion of US$100,000 of outstanding
principal amount under the Company's convertible loan facility (the
"Facility") with YA Global Master SPV Ltd ("YA Global").
Accordingly, the outstanding principal amount will be reduced by
US$100,000, leaving a total of US$935,712 in principal amount
outstanding under the Facility.
A further 2,399,774 new Ordinary Shares are to be issued and
allotted to YA Global at a price of 0.0709 pence per share in
settlement of accrued interest.
Pursuant to this announcement, application has been made for
92,583,131 new Ordinary Shares of the Company to be admitted to
trading on AIM. This is expected to occur on 23 July 2015
("Admission"). Following Admission, ECR's issued ordinary share
capital will consist of 3,959,612,463 Ordinary Shares. The new
Ordinary Shares will rank pari passu in all respects with the
Ordinary Shares of the Company currently traded on AIM.
The total of 3,959,612,463 Ordinary Shares may therefore be used
by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
FOR FURTHER INFORMATION PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Stephen Clayson, Director & CEO
Richard (Dick) Watts, Technical Director
Email: info@ecrminerals.com
Website: www.ecrminerals.com
Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900
Nominated Adviser
Jo Turner/Emma Earl
Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550
Broker
Martin Lampshire
View source version on businesswire.com:
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