Last checked at 29 Apr 2013 16:35
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
AIM: ECR
US OTC: MTGDY
FINANCING UPDATE
LONDON: 29 APRIL 2013 - ECR Minerals plc announces the issue and allotment of 8,000,000 ordinary shares of 0.1p (“Ordinary Shares”) at 0.12p per share in connection with an advance of GBP 9,600 (the “Advance”) under the Company’s Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd (“YA Global”). The proceeds of the Advance will augment the Company’s working capital.
Pursuant to this announcement application has been made for 8,000,000 new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 3 May 2013. Following admission, the Company’s issued ordinary share capital will consist of 1,118,623,551 Ordinary Shares. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.
ABOUT ECR MINERALS PLC
ECR is a mineral development company with, among other interests, the right to earn a 50% interest in the Itogon gold-silver project in the Philippines; 100% ownership of the Sierra de las Minas gold project in La Rioja Province, Argentina; and a substantial minority stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA.
FOR FURTHER INFORMATION PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0)20 7929 1010 | |
| Paul Johnson, Non-Executive Chairman | ||
| Stephen Clayson, Director & Chief Executive Officer | ||
| Email: info@ecrminerals.com | ||
| Website: www.ecrminerals.com | ||
| Daniel Stewart & Company plc | Tel: +44 (0)20 7776 6550 | |
| David Hart/Antony Legge | ||
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