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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  ECR Minerals PLC    ECR   GB00B0P4LQ95

Delayed Quote. Delayed  - 09/29 01:44:34 pm
0.0054 GBp   +2.86%
09/27 ECR MINERALS : Repayment of Yorkville Facility
09/27 ECR MINERALS : Repays All Debt Under Convertible Loan Facility
09/15 ECR MINERALS : Issue of Equity
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ECR Minerals PLC : Financing Update

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11/23/2012 | 06:52pm CEST

ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")

AIM: ECR

US OTC: MTGDY

London: 23 November 2012 - ECR Minerals plc announces the issue and allotment of 47,702,099 ordinary shares of 0.1p ("Ordinary Shares") at 0.33542p per share in connection with an advance of GBP160,000 (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. The Company continues to pursue the crystallisation of value from investment positions and the disposal of non-core assets, and hopes to be in a position to provide further updates shortly.

Pursuant to this announcement application has been made for a total of 47,702,099 new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 28 November 2012. Following the issue and allotment of the new Ordinary Shares the Company will have a total of 986,705,534 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 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 deposit in New Mexico, USA to production; and stakes in West Wits Mining Ltd (ASX: WWI) and Paniai Gold Ltd (unquoted), both of which have interests in the Derewo River alluvial gold mining and exploration project in Papua, Indonesia.


For further information please contact:
ECR Minerals plc
Keith Irons, Non-Executive Chairman Tel: +44 (0)20 7929 1010
Stephen Clayson, Director & Chief Financial Officer
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.ecrminerals.com
Daniel Stewart & Company plc
Paul Shackleton/David Hart Tel: +44 (0)20 7776 6550


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Latest news on ECR MINERALS PLC
09/27 ECR MINERALS : Repayment of Yorkville Facility
09/27 ECR MINERALS : Repays All Debt Under Convertible Loan Facility
09/15 ECR MINERALS : Issue of Equity
09/14 ECR MINERALS : Issues Shares To Settle Unpaid Fees (ALLISS)
09/06 WINNERS & LOSERS SUMMARY : Mobile Streams Jumps As Subscribers Flood In
09/06 ECR MINERALS : Raises GBP500,000 For Australia Gold Projects (ALLISS)
09/06 ECR MINERALS : Issue of Equity, Grant of Options & Appointment of Joint Broker
09/04 ECR MINERALS : Conversion of Loan
09/02 ECR MINERALS : Issues Shares To YA Global After Loan Conversion (ALLISS)
09/01 WINNERS & LOSERS SUMMARY : Weak UK Recruitment Market Hits Hays Stock
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Managers
NameTitle
Craig William Brown Chief Executive Officer & Finance Director
H. William John Selwood Howell Non-Executive Chairman
Richard Andrew Watts Non-Executive Director & Technical Director
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