ECR Minerals plc Issue of Shares for Business Services
19 July 2019 - 7:00PM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
Issue of Shares for Business Services
ECR Minerals plc (LON:ECR) the precious metals exploration and
development company is pleased to announce that 5,090,000 New
Ordinary Shares have been issued by the Company at a deemed share
price of 1.0p per share in lieu of business support, marketing and
communications services valued at GBP50,900.
The shares are to be issued to five different and unconnected
service providers covering principally investor and public
relations services.
Craig Brown Chief Executive Officer of ECR Minerals plc
commented: "ECR continues to aggressively pursue its Australian
gold project portfolio and has experienced exploration success
across its Bailieston and Creswick projects in 2019. A third
project, Timor, is now activated and exploration work is
progressing on the ground.
Given the range and depth of our project interests and amount of
operational activity, we are focused on maintaining strong and
focused market communications to ensure our message is well
distributed and properly understood.
I am pleased that our service providers have today taken shares
in lieu of cash for services, which we believe demonstrates their
confidence in the business model..
I look forward to updating the market with further developments
at the earliest opportunity."
ADMISSION OF SHARES AND TOTAL VOTING RIGHTS
Admission of the New Ordinary Shares is expected to occur on or
around 24 July 2019. Following Admission of the Financing Shares,
ECR's issued ordinary share capital will comprise 450,930,783
ordinary shares of 0.001 pence. This number will represent the
total voting rights in the Company, and, following admission of
both the placing and subscription shares, may be used by
shareholders as the denominator for the calculation by which they
can determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules. The new
shares will rank pari passu in all respects with the ordinary
shares of the Company currently traded on AIM.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email:
info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Broker
Nick Emerson
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR's
wholly owned Australian subsidiary Mercator Gold Australia Pty
Limited has 100% ownership of the Avoca, Bailieston, Creswick,
Moormbool and Timor gold exploration licences in central Victoria,
Australia and the Windidda Gold Project in the Yilgarn Region,
Western Australia.
ECR has earned a 25% interest in the Danglay epithermal gold
project, an advanced exploration project located in a prolific gold
and copper mining district in the north of the Philippines. An
NI43-101 technical report was completed in respect of the Danglay
project in December 2015 and is available for download from ECR's
website.
ECR's wholly owned Argentine subsidiary Ochre Mining has 100%
ownership of the SLM gold project in La Rioja, Argentina.
Exploration at SLM has focused on identifying small tonnage
mesothermal gold deposits which may be suitable for relatively
near-term production.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190719005111/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
July 19, 2019 05:00 ET (09:00 GMT)
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