ECR Minerals plc Partial Conversion of Loan
October 26 2015 - 5:03AM
UK Regulatory
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
PARTIAL CONVERSION OF LOAN
LONDON: 26 OCTOBER 2015 - ECR Minerals plc announces the issue
and allotment of 186,309,751 new ordinary shares of 0.001 pence
each in the Company ("Ordinary Shares") at a price of 0.0523 pence
per share pursuant to the conversion of US$150,000 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$150,000, leaving a total of US$500,000 in principal amount
outstanding under the Facility.
A further 715,430 new Ordinary Shares are to be issued and
allotted to YA Global at a price of 0.0523 pence per share in
settlement of accrued interest.
Pursuant to this announcement, application has been made for
187,025,181 new Ordinary Shares of the Company to be admitted to
trading on AIM. This is expected to occur on 30 October 2015
("Admission"). Following Admission, it is expected that ECR's
issued ordinary share capital will consist of 5,174,743,855
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
View source version on businesswire.com:
http://www.businesswire.com/news/home/20151026005563/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 26, 2015 05:03 ET (09:03 GMT)
Ecr Minerals (LSE:ECR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ecr Minerals (LSE:ECR)
Historical Stock Chart
From Apr 2023 to Apr 2024