ECR Minerals plc Partial Conversion of Loan
August 06 2015 - 3:24AM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
PARTIAL CONVERSION OF LOAN
LONDON: 6 AUGUST 2015 - ECR Minerals plc announces the issue and
allotment of 111,582,609 new ordinary shares of 0.001 pence each in
the Company ("Ordinary Shares") at a price of 0.0575 pence per
share pursuant to the conversion of US$100,000 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$100,000, leaving a total of US$835,712 in principal amount
outstanding under the Facility.
A further 1,079,009 new Ordinary Shares are to be issued and
allotted to YA Global at a price of 0.0575 pence per share in
settlement of accrued interest.
Pursuant to this announcement, application has been made for
112,661,618 new Ordinary Shares of the Company to be admitted to
trading on AIM. This is expected to occur on 11 August 2015
("Admission"). The new Ordinary Shares will rank pari passu in all
respects with the Ordinary Shares of the Company currently traded
on AIM.
Following Admission, and following First Admission and Second
Admission (as those terms are defined in the Company's announcement
dated 3 August 2015), it is expected that ECR's issued ordinary
share capital will consist of 4,647,548,656 Ordinary Shares.
Following Admission and First Admission only, it is expected that
the Company's issued ordinary share capital will consist of
4,191,993,102 Ordinary Shares.
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
View source version on businesswire.com:
http://www.businesswire.com/news/home/20150806005504/en/
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