Issue of Equity, Total Voting Rights, PDMR Dealing

ECR Minerals PLC

14 December 2023

 

ECR MINERALS plc

("ECR Minerals" or the "Company")

Issue of Equity and Total Voting Rights

PDMR Dealing

ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, is pleased to confirm that the new ordinary shares awarded to Nick Tulloch, managing director, and Mike Whitlow, chief operating officer pursuant to their remuneration arrangements announced on 19 September 2023 have been issued and allotted.  Accordingly, each of Nick Tulloch and Mike Whitlow have received 12,857,142 new ordinary shares, in lieu of £22,500 of their remuneration for the period 15 September 2023 to 14 December 2023, at a price of 0.175p per share.

The total ordinary shares in ECR Minerals currently held by Nick and Mike, as PDMRs of the Company, are as follows:

Name	Shares in the Company Issued today	Total Shares in the Company now held	Percentage of the Company's issued equity held
Nick Tulloch	12,857,142	12,857,142	0.8%
Mike Whitlow	12,857,142	12,857,142	0.8%
Total	25,714,284

Additional Issue of Equity

At the same time, the Company has agreed to issue and allot 2,585,092 new ordinary shares in lieu of £6,000 of fees owed by the Company in order to assist the Company in conserving its cash resources. These shares have been issued at a price of 0.232p, which is the volume weighted average price for ECR Mineral's ordinary shares over the past 14 trading days.

Admission and Disclosure and Transparency Rules

Application has been made for 28,299,376 new ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 15 December 2023. The new ordinary shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR's issued ordinary share capital will comprise 1,597,382,518 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.

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 has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North 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.

2	Details of the person discharging managerial responsibilities
a)	Name	Nick Tulloch
2	Reason for the notification
a)	Position/status	Managing Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ECR Minerals plc
b)	LEI	213800PBXY96KXHISJ17
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	ordinary shares of 0.001p each GB00BYYDKX57
b)	Nature of the transaction	New ordinary shares issued
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.175p per share 12,857,142
d)	Aggregated information -   Aggregated volume  -   Price	12,857,142 0.175p
e)	Date of the transaction	14 December 2023
f)	Place of the transaction	London Stock Exchange (XLON)
1	Details of the person discharging managerial responsibilities
a)	Name	Mike Whitlow
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ECR Minerals plc
b)	LEI	213800PBXY96KXHISJ17
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	ordinary shares of 0.001p each GB00BYYDKX57
b)	Nature of the transaction	New ordinary shares issued
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.175p per share 12,857,142
d)	Aggregated information -   Aggregated volume  -   Price	12,857,142 0.175p
e)	Date of the transaction	14 December 2023
f)	Place of the transaction	London Stock Exchange (XLON)

 

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