REG - ECR Minerals PLC - Issue of Equity, Total Voting Rights, PDMR Dealing

ECR MineralsAnnouncement

14/03/2024 07:15

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RNS Number : 7841G  ECR Minerals PLC  14 March 2024

ECR MINERALS plc

("ECR Minerals" or the "Company")

Issue of Equity and Total Voting Rights

PDMR Dealing

ECR Minerals plc (LON:ECR), the exploration and development company focused on
gold in Australia, is pleased to confirm that the new ordinary shares awarded
to Nick Tulloch, managing director, and Mike Whitlow, chief operating officer
pursuant to their remuneration arrangements announced on 19 September 2023
have been issued and allotted.  Accordingly, each of Nick Tulloch and Mike
Whitlow have received 9,698,275 new ordinary shares, in lieu of £22,500 of
their remuneration for the period 15 December 2023 to 14 March 2024, at a
price of 0.232p per share.

The total ordinary shares in ECR Minerals currently held by Nick and Mike, as
PDMRs of the Company, are as follows:

 Name          Shares in the Company Issued today  Total Shares in the Company now held  Percentage of the Company's issued equity held
 Nick Tulloch  9,698,275                           22,555,417                            1.39%
 Mike Whitlow  9,698,275                           22,555,417                            1.39%
 Total         19,396,550

 

Additional Issue of Equity

At the same time, the Company has agreed to issue and allot 2,307,692 new
ordinary shares in lieu of £6,000 of fees owed by the Company in order to
assist the Company in conserving its cash resources. These shares have been
issued at a price of 0.26p, which was the volume weighted average price for
ECR Mineral's ordinary shares over the 14 trading days prior to the date of
the invoice.

Admission and Disclosure and Transparency Rules

Application has been made for 21,704,242 new ordinary shares to be admitted to
trading on AIM ("Admission") and it is expected that Admission will become
effective on or around 15 March 2024. The new ordinary shares will rank pari
passu with the existing ordinary shares. Upon Admission, ECR's issued ordinary
share capital will comprise 1,619,086,760 ordinary shares of 0.001p. This
number will represent the total voting rights in the Company, and, following
admission may be used by shareholders as the denominator for the calculation
by which they can determine if they are required to notify their interest in,
or a change to their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 Nick Tulloch, Chairman

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 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).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX")
which has three approved exploration permits covering 946 km2 over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km2 in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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), MGA 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.  MGA also has approximately A$75
million of unutilised tax losses incurred during previous operations.

 

ECR holds a 90% interest in the Danglay gold project in the Philippines and a
royalty on the SLM gold project in La Rioja Province, Argentina which could
potentially receive up to US$2.7 million in aggregate across all licences.

 

 2   Details of the person discharging managerial responsibilities
 a)  Name                                                         Nick Tulloch
 2   Reason for the notification
 a)  Position/status                                              Chairman
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         ECR Minerals plc
 b)  LEI                                                          213800PBXY96KXHISJ17
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  ordinary shares of 0.001p each

     Identification code

                                                                  GB00BYYDKX57
 b)  Nature of the transaction                                    New ordinary shares issued
 c)  Price(s) and volume(s)                                       Price(s)          Volume(s)
                                                                  0.232p per share  9,698,275

 
 d)  Aggregated information

     -   Aggregated volume                                        9,698,275

      -   Price                                                   0.232p
 e)  Date of the transaction                                      13 March 2024
 f)  Place of the transaction                                     London Stock Exchange (XLON)

 1   Details of the person discharging managerial responsibilities
 a)  Name                                                         Mike Whitlow
 2   Reason for the notification
 a)  Position/status                                              Chief Operating Officer
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         ECR Minerals plc
 b)  LEI                                                          213800PBXY96KXHISJ17
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  ordinary shares of 0.001p each

     Identification code

                                                                  GB00BYYDKX57
 b)  Nature of the transaction                                    New ordinary shares issued
 c)  Price(s) and volume(s)                                       Price(s)          Volume(s)
                                                                  0.232p per share  9,698,275

 
 d)  Aggregated information

     -   Aggregated volume                                        9,698,275

      -   Price                                                   0.232p
 e)  Date of the transaction                                      13 March 2024
 f)  Place of the transaction                                     London Stock Exchange (XLON)

 

d)

Aggregated information

-   Aggregated volume

 -   Price

 

9,698,275

0.232p

e)

Date of the transaction

13 March 2024

f)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities

a)

Name

Mike Whitlow

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

ECR Minerals plc

b)

LEI

213800PBXY96KXHISJ17

4

Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

ordinary shares of 0.001p each

 

GB00BYYDKX57

b)

Nature of the transaction

New ordinary shares issued

c)

Price(s) and volume(s)

 Price(s)          Volume(s)
 0.232p per share  9,698,275

 

d)

Aggregated information

-   Aggregated volume

 -   Price

 

9,698,275

0.232p

e)

Date of the transaction

13 March 2024

f)

Place of the transaction

London Stock Exchange (XLON)

 

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