08:00 Tue 28 Apr 2015
PARTIAL CONVERSION OF LOAN
--(BUSINESS WIRE)--
(“ECR Minerals”, “ECR” or the “Company”)
AIM: ECRUS OTC: MTGDY
PARTIAL CONVERSION OF LOAN
announces the issue and
allotment of 60,962,963 new ordinary shares of each in the
Company (“Ordinary Shares”) at a price of £0.001080 () per
share pursuant to the conversion of of outstanding principal
amount under the Company’s convertible loan facility (the “Facility”)
with (“YA Global”). Accordingly, the
outstanding principal amount will be reduced by , leaving a
total of in principal amount outstanding under the Facility.: -
A further 4,300,324 new Ordinary Shares are to be issued and allotted to
YA Global at a price of £0.001080 () per share in settlement
of accrued interest.
Pursuant to this announcement, application has been made for 65,263,287
new Ordinary Shares of the Company to be admitted to trading on AIM.
This is expected to occur on (“Admission”). Following
Admission, ECR’s issued ordinary share capital will consist of
3,653,324,804 Ordinary Shares. The new Ordinary Shares will rank pari
passu in all respects with the Ordinary Shares of the Company currently
traded on AIM.
The total of 3,653,324,804 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 FCA’s Disclosure and Transparency Rules.
ABOUT ECR
ECR is a mineral exploration and development company with, among other
interests, the right to earn a 50% interest in the Itogon gold project
in . Itogon is an advanced exploration project located in
a gold and copper mining district in the north of .
ECR has a 100% interest in the SLM gold project in ,
, the exploration strategy for which is to delineate multiple
medium to high grade, low tonnage deposits suitable for advancement to
production on a relatively low capital, near term basis.
ECR continues to review potential new investments on a highly selective
basis, with a concentration on precious, base and strategic metals
projects in and .
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to a number of 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 as a result of new information, future events or for any other reason.
Source:
FOR FURTHER INFORMATION PLEASE CONTACT: | ||
Tel: +44 (0)20 7929 1010 | ||
, Non-Executive Chairman | ||
, Director & CEO | ||
, Technical Director | ||
Email:info@ecrminerals.com | ||
Website:www.ecrminerals.com | ||
Tel: +44 (0)207 148 7900 | ||
Nominated Adviser | ||
/ | ||
Tel: +44 (0)20 7776 6550 | ||
Broker | ||
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