REG-ECR Minerals plc Board and Management Changes
15/09/2023 13:15
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Board and Management Changes
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
Board and Management Changes
ECR Minerals plc (LON: ECR), the gold exploration and development company
focused on Australia, is pleased to announce the following board and
management changes at a pivotal time for the Company’s exploration and
development work across its assets in Australia.
Nicholas (‘Nick’) Tulloch has been appointed to the Board as Executive
Director and Managing Director and Michael (‘Mike’) Whitlow has been
appointed as Chief Operating Officer (a non-board position). The new
leadership team are taking up their roles with immediate effect. They have
already begun to address ECR’s operational and strategic opportunities and
the Company expects to make a further update to shareholders shortly.
Andrew Haythorpe has informed the Board that he has decided to step down as
CEO (non-board position) in order to pursue his other interests. Andrew has
overseen the development of ECR during a challenging period for the Company,
and in particular has worked closely with ECR’s geology team to develop the
Company’s Queensland assets since taking up the role in April 2022.
Nick Tulloch is Founder and CEO at Aquis listed Voyager Life plc, a health
& wellness company focused on high quality CBD and hemp seed oil products.
Prior to founding Voyager, Nick advised companies on the UK capital markets
for over 20 years, working for several well-known investment banks and
stockbrokers, including Cazenove, Arbuthnot, Cenkos and Cantor Fitzgerald. For
much of his career, he specialised in international resources companies. He
was finance director and then subsequently CEO of Zoetic International plc,
the first CBD company listed on the London Stock Exchange (now Chill Bands
Group plc). Nick began his career as a solicitor with Gouldens and he holds a
Masters in law from Oxford University. The disclosures required pursuant to
the AIM Rule for Companies, in relation to this appointment, are set out at
the end of this announcement.
Mike Whitlow is highly regarded as an entrepreneur with a long standing and
successful business-building track record. Mike has spent over 20 years
investing and financing small cap / start-up companies. Having started his
career in the natural resources industry, more recently Mike has overseen and
assembled a number of resource projects through his company Axies Ventures
Ltd, where he has personally overseen two funding rounds and two work
programmes in the Mediterranean and North America including a successful
drilling campaign earlier this year. Mike is being appointed as COO in a
non-board position at the Company, with the intention that, subject to
requisite checks and approvals, he will be appointed to the board of the
Company in due course. Further updates will be provided as appropriate.
Managing Director Nick Tulloch commented: “I am hugely excited to be joining
the ECR board at such an important time for the Company. Having known and
worked with Mike Whitlow for a number of years, I know he is equally excited
at the scale of the opportunity, and at the same time, both he and I wish to
be fully aligned with all shareholders as we embark on this journey. We look
forward to working with the ECR board to help realise the potential of the
Company asset portfolio and deliver shareholder value.”
Chairman David Tang commented: “I am delighted to announce the appointment
of Nick Tulloch to the Board at such a pivotal time for ECR and its asset
portfolio. Nick’s long-standing experience and knowledge of the City and
capital markets will add an important dimension to our Company as we develop
our assets in Australia. I am also delighted to welcome Mike Whitlow to ECR as
our new Chief Operating Officer. Mike’s track record and ‘hands on’
experience in developing assets in the natural resources space, coupled with
his profile among the investment community brings a unique and well-suited
skillset to ECR at an important time.’
“I would also like to take this opportunity on behalf of both the Board and
our shareholders to thank Andrew Haythorpe for his service and for overseeing
the Company through a particularly challenging period. We wish him every
success in his future endeavours.”
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
Regulatory Information Service (RIS), this inside information is now
considered to be in the public domain.
Additional Disclosures
The following information is disclosed pursuant to Schedule Two paragraph (g)
of the AIM Rules for Companies:
Nicholas Tulloch (aged 50) is currently a director of Voyager Life plc,
VoyagerCann Limited, DG Innovate plc, Axies Ventures Limited, Fetlar Capital
Limited and GasRock Limited. During the past five years he has been a director
of Chill Bands Group plc, U4EA plc, Brent Natural Resources Limited, Highlands
Natural Resources Corporation, Highlands Montana Corporation and Zoetic
Corporation.
There is no further information regarding Mr Tulloch required to be disclosed
pursuant to AIM Rule 17 and Schedule Two (g) of the AIM Rules for Companies
and Mr Tulloch holds no shares or options in the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman
Andrew Scott, Director
Nick Tulloch, Managing Director
Email:
info@ecrminerals.com (mailto:info@ecrminerals.com)
Website: www.ecrminerals.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=53555639&newsitemid=20230915478254&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=f74122fd9b64ad52a22949861ec031f5)
WH Ireland Ltd Tel: +44 (0) 207 220 1666
Nominated Adviser
Katy Mitchell / Andrew de Andrade
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited Tel: +44 (0) 20 7399 9425
Broker
Jon Belliss
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly
owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has
100% ownership of the Bailieston and Creswick gold projects in central
Victoria, Australia, has six licence applications outstanding which includes
one licence application lodged in eastern Victoria. (Tambo gold project). MGA
is currently drilling at the Bailieston Blue Moon Project (EL5433) and
undertaking geochemical exploration on the Creswick (EL6148) project and has
an experienced exploration team with significant local knowledge in the
Victoria Goldfields and wider region.
ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
(“LUX”) which has three approved exploration permits covering 946 km(2)
over a relatively unexplored area in Queensland, Australia.
Following the sale of the Avoca, Moormbool and Timor gold projects in
Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the
subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd
(TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up
to A$2 million in payments subject to future resource estimation or production
from projects sold to Fosterville South Exploration Limited.
ECR holds a 90% interest in the Danglay gold project; an advanced exploration
project located in a prolific gold and copper mining district in the north of
the Philippines, which has a 43-101 compliant resource. ECR also holds a
royalty on the SLM gold project in La Rioja Province, Argentina and can
potentially receive up to US$2.7 million in aggregate across all licences.
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