REG-ECR Minerals plc Partial Conversion of Loan <Origin Href="QuoteRef">ECRE.L</Origin>

ECR MineralsAnnouncement

24/11/2014 14:09

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140915:nBw155636a 
 
http://www.businesswire.com/news/home/20140915005636/en 
 
LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

PARTIAL CONVERSION OF LOAN

LONDON: 15 SEPTEMBER 2014

ECR Minerals plc announces the issue and allotment of 28,066,424 new ordinary
shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of
£0.002198 (0.2198 pence) per share pursuant to the conversion of US$100,000 of
the outstanding principal amount of the convertible loan of US$1.5 million (the
"Loan") received from YA Global Master SPV Ltd ("YA Global") and announced on 3
September 2014. Accordingly, the outstanding principal amount of the Loan will
be reduced by US$100,000. 

An additional 1,153,417 new Ordinary Shares are to be issued and allotted to YA
Global at a price of £0.002198 (0.2198 pence) per share in settlement of accrued
interest on the Loan. 

Pursuant to this announcement, application has been made for 29,219,841 new
Ordinary Shares of the Company to be admitted to trading on AIM. This is
expected to occur on 19 September 2014 ("Admission"). Following Admission, ECR`s
issued ordinary share capital will consist of 3,288,349,154 Ordinary Shares. The
new Ordinary Shares will rank pari passu in all respects with the Ordinary
Shares of the Company currently traded on AIM. 

The total of 3,288,349,154 Ordinary Shares may therefore be used by shareholders
in the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA`s Disclosure and
Transparency Rules. 

ABOUT ECR

ECR is a mineral exploration and development company with, among other
interests, the right to earn a 50% interest in the Itogon gold project in the
Philippines. Itogon is an advanced exploration project located in a gold and
copper mining district on the island of Luzon in the north of the Philippines. 

ECR has a 100% interest in the Sierra de las Minas gold project in Argentina,
the exploration strategy for which is to delineate multiple medium to high
grade, low tonnage deposits suitable for advancement to production on a
relatively low capital, near term basis. 

ECR holds a substantial minority stake in THEMAC Resources Group Ltd (TSX-V:
MAC), which is focused on the development of the Copper Flat
copper-molybdenum-gold-silver porphyry project in New Mexico, USA. 

FOR FURTHER INFORMATION PLEASE CONTACT: 
 
 ECR Minerals plc                                       Tel: +44 (0)20 7929 1010    
 Paul Johnson, Non-Executive Chairman                                               
 Stephen Clayson, Director & Chief Executive Officer                                
 Richard (Dick) Watts, Technical Director                                           
                                                                                    
 Email: info@ecrminerals.com                                                        
 Website: www.ecrminerals.com                                                       
                                                                                    
 Daniel Stewart & Company plc                           Tel: +44 (0)20 7776 6550    
 Emma Earl/Harrison Clarke (Nominated Adviser)                                      
 Colin Rowbury (Broker)                                                             
 
 
FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be
subject to a number of known and unknown risks, uncertainties and other factors
that could cause actual results or events to differ materially from current
expectations. There can be no assurance that such statements will prove to be
accurate and therefore actual results and future events could differ materially
from those anticipated in such statements. 

Accordingly, readers should not place undue reliance on forward looking
statements. Any forward looking statements contained herein speak only as of the
date hereof (unless stated otherwise) and, except as may be required by
applicable laws or regulations (including the AIM Rules for Companies), the
Company disclaims any obligation to update or modify such forward looking
statements as a result of new information, future events or for any other
reason. 
 
ECR Minerals plc 

Copyright Business Wire 2014