Result of General Meeting & Total Voting Rights

ECR Minerals PLC

06 October 2023

 

ECR MINERALS plc

("ECR Minerals" or the "Company")

Result of General Meeting

Total Voting Rights

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce that at the General Meeting ("GM") held earlier today, all resolutions put to shareholders were duly passed.

ECR Managing Director Nick Tulloch commented: "I am delighted to report the resolutions put to shareholders at the GM today were unanimously passed, including the motion to increase the Company share capital. As a result, subject to receiving the subscription monies, the funds from the £580,000 raised will be utilised to advance the Company's extensive existing assets, to progress new opportunities and for working capital purposes. I am also pleased to see the Director Share Agreement and Salary Sacrifice schemes implemented, which we expect to contribute significantly to a reduction in cash burn. We are grateful for the support and confidence shown by both our existing shareholders and new investors."

ECR Chairman David Tang added: "I am pleased that as a result of all resolutions put to the GM being passed, our restructured board are fully united and aligned with shareholders. I look forward to supporting Nick Tulloch, Mike Whitlow and the rest of the Board as we restructure and streamline ECR operations."

Admission and Disclosure and Transparency Rules

Application will be made for 331,392,843 New Ordinary Shares and 6,857,142 Advisor Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 10 October 2023. The New Ordinary Shares and Advisor Shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR's issued ordinary share capital will comprise 1,546,226,000 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission 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 Existing Directors Shares and the New Directors Shares will be issued in accordance with the timetable set out in the announcement of 18 September 2023, and further announcements will be made at those times.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc		Tel: [phone]
David Tang, Non-Executive Chairman Nick Tulloch, Managing Director Andrew Scott, Director
Email: [e-mail]
Website: www.ecrminerals.com
WH Ireland Ltd		Tel: [phone]
Nominated Adviser Katy Mitchell / Andrew de Andrade
SI Capital Ltd		Tel: [phone]
Broker
Nick Emerson
Novum Securities Limited		Tel: [phone]
Broker Jon Belliss
Brand Communications		Tel: [phone]
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR's wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX") which has three approved exploration permits covering 946 km² over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company also has an option to acquire 100% of Placer Gold, which wholly owns the Hurricane Project, a later stage gold and antimony project located west of Cairns in the Hodgkinson Province, NE Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR holds a 90% 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, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

 

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