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9 Jul 2020 16:45
ECR MINERALS plc(“ECR Minerals”, “ECR” or the “Company”)
9 July 2020
Warrant Instrument Clarification
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, provides a clarification as to the expiry date of certain warrants issued in July 2018.
On 11 July 2018 the Company announced a financing which included the issue of 92,857,143 new ordinary shares (the “Financing Shares”). Each Financing Share had a warrant attached to subscribe for a further new ordinary share in ECR Minerals plc at a price of 1.125p (the “Financing Warrants”).
The announcement of 11 July 2018 stated that the exercise period of the Financing Warrants was two years from the admission date of the Financing Shares and that therefore the expiry date for the Financing Warrants was 25 July 2020. However this date was provided in error and the exercise period set out in the relevant warrant documentation is three years from 30 July 2018 and therefore the expiry date for the Financing Warrants is 30 July 2021.
Accordingly, holders of the Financing Warrants have until 30 July 2021 to exercise these warrants. ECR will write to all holders of the Financing Warrant to clarify the actual expiration date of 30 July 2021.
No other warrants issued by ECR Minerals are affected by this notice.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc |
Tel: +44 (0)20 7929 1010 |
David Tang, Non-Executive Chairman |
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Craig Brown, Director & CEO |
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Email: info@ecrminerals.com |
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Website: www.ecrminerals.com |
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WH Ireland Ltd | Tel: +44 (0)161 832 2174 |
Nominated Adviser |
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Katy Mitchell/James Sinclair-Ford |
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SI Capital | Tel: +44 (0)1483 413500 |
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 Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at those projects.
ECR has earned a 25% interest in the Danglay gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200709005740/en/
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