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

ECR MineralsAnnouncement

16/12/2014 15:44

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LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

PARTIAL CONVERSION OF LOAN

LONDON: 16 DECEMBER 2014 - ECR Minerals plc announces the issue and allotment of
97,037,767 new ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") at a price of £0.001733 (0.1733 pence) per share pursuant to the
conversion of US$264,288 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$264,288, leaving US$885,712
outstanding. 

An additional 13,112,262 new Ordinary Shares are to be issued and allotted to YA
Global at a price of £0.001733 (0.1733 pence) per share in settlement of accrued
interest on the Loan. 

Pursuant to this announcement, application has been made for 110,150,029 new
Ordinary Shares of the Company to be admitted to trading on AIM. This is
expected to occur on 22 December 2014 ("Admission"). Following Admission, ECR`s
issued ordinary share capital will consist of 3,501,404,283 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 3,501,404,283 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                                          
                                                                       
 Cairn Financial Advisers LLP                Tel: +44 (0)207 148 7900  
 Nominated Adviser                                                     
 Jo Turner/Liam Murray                                                 
                                                                       
 Daniel Stewart & Company plc                Tel: +44 (0)20 7776 6550  
 Broker                                                                
 Colin Rowbury                                                         
                                                                       
 
 
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 

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