Issue of Equity
ECR Minerals plc
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
AIM: ECR
US OTC: MTGDY
ISSUE OF EQUITY
ECR Minerals plc announces that it has issued and allotted a total of 45,258,765 ordinary shares of 0.1p (“New Ordinary Shares”) as follows:
The proceeds of the Advance will be applied towards repayment of the US$1.5M loan from YA Global to the Company announced on 15 August 2011.
Pursuant to this announcement application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 19 October 2011.
Following admission of the New Ordinary Shares, the Company will have a total of 588,709,718 ordinary shares of 0.1 pence in issue with each share carrying the right to one vote. The Company has no ordinary shares held in treasury. The total of 588,709,718 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA’s Disclosure and Transparency Rules.
Patrick Harford, Managing Director of ECR Minerals plc, commented:
“In view of the prevailing financial market uncertainties we are pleased to have been able to utilise the SEDA to shore up ECR’s financial position and thus help maintain the momentum of our exploration activities in Argentina.”
For further information please contact:
ECR Minerals plc | ||
Michael Silver, Chairman | Tel: +44 (0)20 7929 1010 | |
Patrick Harford, Managing Director | ||
Stephen Clayson, Director | ||
Email: info@ecrminerals.com |
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Website: www.ecrminerals.com |
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