Last checked at 19 Jul 2019 10:00
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 £50,900.
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 | |||
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WH Ireland Ltd | Tel: +44 (0)161 832 2174 | ||
Nominated Adviser | |||
Katy Mitchell/James Sinclair-Ford | |||
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SI Capital Ltd |
| Tel: +44 (0)1483 413500 |
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Broker |
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Nick Emerson |
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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/
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