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

ECR MineralsAnnouncement

05/12/2014 13:50

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20141205:nBw055340a 
 
LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

PARTIAL CONVERSION OF LOAN

LONDON: 5 DECEMBER 2014 - ECR Minerals plc announces the issue and allotment of
102,905,100 new ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") at a price of £0.001549 (0.1549 pence) per share pursuant to the
conversion of US$250,000 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$250,000, leaving US$1,150,000
outstanding. 

Pursuant to this announcement, application has been made for 102,905,100 new
Ordinary Shares of the Company to be admitted to trading on AIM. This is
expected to occur on 11 December 2014 ("Admission"). Following Admission, ECR`s
issued ordinary share capital will consist of 3,391,254,254 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 3,391,254,254 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 in the north of the Philippines. 

ECR has a 100% interest in the SLM gold project in La Rioja Province, 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 continues to review potential new investments on a highly selective basis,
with a concentration on precious, base and strategic metals projects in Asia and
South America. 

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010 

Paul Johnson, Non-Executive Chairman 

Stephen Clayson, Director & CEO 

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/David Coffman (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