Partial Conversion of Loan

LONDON--()--

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

AIM: ECR

US OTC: MTGDY

PARTIAL CONVERSION OF LOAN

LONDON: 4 NOVEMBER 2015 - ECR Minerals plc announces the issue and allotment of 244,293,785 new ordinary shares of 0.001 pence each in the Company (“Ordinary Shares”) at a price of 0.0531 pence per share pursuant to the conversion of US$200,000 of outstanding principal amount under the Company’s convertible loan facility (the “Facility”) with YA Global Master SPV Ltd (“YA Global”). Accordingly, the outstanding principal amount will be reduced by US$200,000, leaving a total of US$300,000 in principal amount outstanding under the Facility.

A further 20,330,132 new Ordinary Shares are to be issued and allotted to YA Global at a price of 0.0531 pence per share in settlement of accrued interest.

Pursuant to this announcement, application has been made for 264,623,917 new Ordinary Shares of the Company to be admitted to trading on AIM. This is expected to occur on 10 November 2015 (“Admission”). Following Admission, it is expected that ECR’s issued ordinary share capital will consist of 5,439,367,772 Ordinary Shares. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc   Tel: +44 (0)20 7929 1010
William (Bill) Howell, Non-Executive Chairman
Stephen Clayson, Director & CEO
Richard (Dick) Watts, Technical Director
 

Email: info@ecrminerals.com

Website: www.ecrminerals.com

 
Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900
Nominated Adviser
Jo Turner/Emma Earl
 
Vicarage Capital Ltd Tel: +44 (0)203 651 2910
Broker
Rupert Williams/Jeremy Woodgate
 

Short Name: ECR Minerals plc
Category Code: MSC
Sequence Number: 493313
Time of Receipt (offset from UTC): 20151104T095848+0000

Contacts

ECR Minerals plc

Contacts

ECR Minerals plc