ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
London: 28 December 2012 - ECR Minerals plc announces the issue and allotment of 27,017,899 ordinary shares of 0.1p (“Ordinary Shares”) at 0.2961p per share in connection with an advance of GBP80,000 (the “Advance”) under the Company’s Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd (“YA Global”).
The proceeds of the Advance will be used in partial repayment of the loan received by ECR from YA Global in August 2012 and for general working capital purposes.
Pursuant to this announcement application has been made for a total of 27,017,899 new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 3 January 2012. Following the issue and allotment of the new Ordinary Shares the Company will have a total of 1,013,723,433 Ordinary Shares in issue. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.
About ECR Minerals plc
ECR is a mineral development company with, among other interests, 100% ownership of the Sierra de las Minas gold project in La Rioja Province, Argentina; a 21% fully diluted stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA; and a stake in Paniai Gold Ltd (unquoted), which has exposure to the Derewo River alluvial gold mining and exploration project in Papua, Indonesia.
For further information please contact:
|ECR Minerals plc||Tel: +44 (0)20 7929 1010|
|Keith Irons, Non-Executive Chairman|
|Stephen Clayson, Director & Chief Operating Officer|
|Daniel Stewart & Company plc||Tel: +44 (0)20 7776 6550|
|David Hart/Paul Shackleton|