Last checked at 20 Dec 2018 16:09
AIM: ECR
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Director Participation – Strategic Financing
ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce that following the announcement of 17 December 2018 and following regulatory approval, the directors of the Company (David Tang and Craig Brown) have subscribed a combined total of £20,000 on the same terms as the financing set out in the earlier announcement resulting in the issue of 2,857,143 new ordinary shares.
In total, including the funds raised in the first part of the financing announced on 17 December 2018, ECR has raised £700,000 through the through the issue of 100,000,000 new ordinary shares at 0.70p per share (“Financing Shares”).
Each Financing Share has a warrant attaching to subscribe for a further new ordinary share in ECR Minerals plc at a price of 1.125p within two years of the admission date of the above financing shares resulting in the issue of 100,000,000 1.125p warrants.
ADMISSION OF STRATEGIC FINANCING SHARES AND TOTAL VOTING RIGHTS
Admission is expected to occur on or around 21 December 2018. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 445,840,783 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.
On Admission, Craig Brown will hold 2,977,842 ordinary shares representing 0.67% of the Company’s issued share capital. Likewise, David Tang will hold 1,428,572 ordinary shares representing 0.32% of the Company’s issued shares capital.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, 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.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
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 |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Craig Brown | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chief Executive Officer | |||
| b) | Initial notification/ Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ECR Minerals PLC | |||
| b) | LEI | 213800PBXY96KXHISJ17 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument
Identification code |
Ordinary Shares
GB00BYYDKX57 | |||
| b) | Nature of the transaction | Subscription for shares | |||
| c) | Price(s) and volume(s) | Price(s) Volume(s)
GBP£0.007 1,428,571 | |||
| d) | Aggregated information Aggregated volume Price | 1,428,571 shares GBP£0.007 | |||
| e) | Date of the transaction | London, Off market | |||
| f) | Place of the transaction | 19/12/218 | |||
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
| a) | Name | Weili (David) Tang | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Executive Chairman | |||
| b) | Initial notification/ Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ECR Minerals PLC | |||
| b) | LEI | 213800PBXY96KXHISJ17 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument
Identification code |
Ordinary Shares
GB00BYYDKX57 | |||
| b) | Nature of the transaction | Subscription for shares | |||
| c) | Price(s) and volume(s) | Price(s) Volume(s)
1,428,572 GBP£0.007 | |||
| d) | Aggregated information Aggregated volume Price | 1,428,572 shares GBP£0.007 | |||
| e) | Date of the transaction | 19/12/2018 | |||
| f) | Place of the transaction | London, Off market | |||
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181220005571/en/
Copyright Business Wire 2018