Receipt of Gross Proceeds
US OTC: MTGDY
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
RECEIPT OF GROSS PROCEEDS
LONDON: 31 MAY 2017 - Further to the announcements dated 27 February 2017 and 15 May 2017 in respect of the Subscription (“Subscription Announcements”), the directors of ECR Minerals plc are pleased to announce that the Company has now received the full amount of the Gross Proceeds of £553,564 from Shenyang Xinliaoan Machinery Co Ltd.
Capitalised terms used, but not otherwise defined in this announcement shall have the same meanings as set out in the Subscription Announcements.
Completion of the Subscription and the issue of the Subscription Shares and associated Investor Warrants remains conditional upon the relevant parties entering into a relationship agreement. A further announcement will be issued regarding completion of the Subscription in due course.
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston and Timor gold projects in 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 subsidiary Ochre Mining has a 100% interest in 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.
Market Abuse Regulations (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0)20 7929 1010|
|William (Bill) Howell, Non-Executive Chairman|
| Craig Brown, Director & CEO |
Ivor Jones, Director & COO
Email: [email protected]
|Cairn Financial Advisers LLP||Tel: +44 (0)20 7213 0880|
|Emma Earl / Jo Turner|
|Optiva Securities Ltd||Tel: +44 (0)203 137 1902|
|FlowComms||Tel: +44 (0)7891 677 441|
|Blytheweigh||Tel: +44 (0)20 7138 3204|
|Tim Blythe / Camilla Horsfall / Nick Elwes|
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to numerous known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Any forward-looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.
ECR Minerals plc