Metals explorer ECR Minerals (LON:ECR) said US$100,000 of its outstanding loan from YA Global has been converted into shares.
The gold mine developer said around 61mln shares were issued at a price of 0.1048 pence a pop.
The reduces the outstanding amount on the loan facility to around US$1.035 mln, it told investors in a brief statement.
A further 974,742 shares will be issued at the same price to cover accrued interest on the facility.