ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to announce the following.
Exercise of warrants (“Warrant Shares”)
ECR has received notice to exercise warrants over 8,761,905 new ordinary shares in the Company (“Warrant Shares”) at 1.125p per share. Aggregate subscription monies of £98,571.43 have been received by ECR in respect of the exercise of these warrants
Exercise of options (“Option Shares”)
In addition, notices to exercise options over 2,000,000 shares (“Option Shares”) at 1.125 pence has been received. Funds of £22,500 have been received by the Company in relation to these Option Shares.
Admission of shares
Application has been made for the Option Shares and the Warrant Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur on or around 8 January 2021. Upon Admission, ECR’s issued ordinary share capital will comprise 684,509,856 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 Option Shares and the Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.
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.
ABOUT ECR MINERALS PLC
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at those projects.
ECR has earned a 25% 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, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.
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