Last checked at 5 Oct 2018 10:12
5 October 2018
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Issue of Shares for Communications Services and Advisor Change
ECR Minerals plc (LON:ECR) the precious metals exploration and development company is pleased to announce that 3,878,400 New Ordinary Shares have been issued by the Company at a deemed share price of 1.0p per share in lieu of marketing and communications services valued at £38,784.
The shares are to be issued to several separate service providers covering investor and public relations services.
In addition the Company announces that it has terminated its broking arrangement with Optiva Securities and now has SI Capital Limited as sole broker.
Craig Brown Chief Executive Officer of ECR Minerals plc commented: “I am pleased to see the confidence in the company shown by marketing and communications advisors taking fees in shares at a premium to the current share price.
ECR Minerals is now seeing extremely positive results from the Australian gold exploration programme in Victoria region and it is important that we increase market awareness of our work and our notable recent successes at Blue Moon and importantly, Creswick.
With this in mind we have been working with advisors to develop a broad communications strategy and secure the right mix of media partners to help broadcast our message. Our marketing & media partners are largely incentivised through share based fee payments in respect of recently delivered and planned services and we plan to see a significant increase in the breadth and depth of company communications at this important time in the advancement and development of the Company.
Separately I would like to thank Optiva Securities for their work over recent years and look forward to working with SI Capital going forward.”
ADMISSION OF SHARES AND TOTAL VOTING RIGHTS
Admission of the New Ordinary Shares is expected to occur on or around 15 October 2018. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 345,840,783 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.
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 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.
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