Australia-centered mining firm ECR Minerals PLC (AIM: ECR) has garnered £580,000 through a direct share subscription, priced at 0.175p each, to several affluent individuals and institutional backers.
The capital raised will propel ECR’s current assets, explore new potential ventures, and support the company’s day-to-day operational needs.
Share issuance depends on the approval of shareholders and its listing on AIM.
ECR’s Managing Director, Nick Tulloch, expressed his gratitude stating, “Despite the testing market circumstances, ECR’s robust assets have garnered the backing from a key group of wealthy and institutional shareholders.”
Tulloch added, “If sanctioned, the Board envisions that the primary use of these funds will be to expedite ECR’s initiatives. Moreover, there are multiple new prospects that the board might consider advancing post thorough due diligence.
Together with my fellow board members, I am eager to share more updates soon
