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viewECR Minerals PLC

Issue of Equity

--(BUSINESS WIRE)--LONDON

 

ECR MINERALS plc

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

PLACING OF SHARES

(LON: ECR), the gold exploration and development company focussed on , is pleased to announce the placing (the “Placing”) of 100,000,000 new ordinary shares of 0.001p (the “Placing Shares”) at a Placing price of 0.5p per share for gross proceeds of £500,000.ECR Minerals plcAustralia

The net proceeds of the Placing, which is conditional on admission of the Placing Shares to trading on AIM (“Admission”), will be used to support the ongoing activities of ECR, particularly in relation to its gold exploration projects in . The Placing was arranged by the Company’s brokerVictoria, AustraliaSI Capital Ltd.

Placees will receive one warrant (“Warrant”) for each Placing Share. Each Warrant is exercisable to subscribe for a new ordinary share in at a price of 1p for a period of 24 months from the date of Admission. If all the Warrants were to be exercised, this would generate proceeds of £1 million for the Company.ECR Minerals plc

, Chief Executive Officer, commented:Craig Brown

“We are pleased by the confidence in ECR shown by investors in the Placing. The Company is now in a strong position to implement our strategy, which centres on our exciting portfolio of gold projects in . Discussions with third parties regarding certain of these projects are continuing, and we hope to be in a position to update the market shortly.”Victoria, Australia

ISSUE OF SHARES FOR SERVICES, ADMISSION OF NEW SHARES AND TOTAL VOTING RIGHTS

In addition to the Placing Shares, the Company has agreed to issue 1,542,860 new ordinary shares in lieu of fees for services unconnected with the Placing (the “Payment Shares”). The deemed price of the Payment Shares is the same as the Placing price.

Admission of both the Placing Shares and Payment Shares is expected to occur on or around . Following admission of the Placing Shares and the Payment Shares to trading on AIM, ECR’s issued ordinary share capital will comprise 552,473,643 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission of the Placing Shares and the Payment Shares, 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 Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.20 April 2020Financial Conduct Authority's

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 (RIS), this inside information is now considered to be in the public domain.Regulatory Information Service

FOR FURTHER INFORMATION, PLEASE CONTACT:

ABOUTECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration projects in central and the Windidda project in the Yilgarn region, .Mercator Gold Australia Pty LtdVictoria, AustraliaWestern Australia

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of . An NI43-101 technical report was completed in respect of the Danglay project in and is available for download from ECR’s website.the PhilippinesDecember 2015

ECR Minerals plc

Source:ECR Minerals plc

ECR Minerals plc

 

Tel: +44 (0)20 7929 1010

, Non-Executive ChairmanDavid Tang

, Director & CEOCraig Brown

Email:

[email protected]

Website:www.ecrminerals.com

 

WH Ireland Ltd

Tel: +44 (0)161 832 2174

Nominated Adviser

/Katy MitchellJames Sinclair-Ford

 

SI Capital Ltd

 

Tel: +44 (0)1483 413500

 

Broker

 

 

 

Nick Emerson

 

 

Quick facts: ECR Minerals PLC

Price: 0.75

Market: AIM
Market Cap: £4.14 m
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