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

ECR MineralsAnnouncement

25/03/2015 08:40

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20150325:nBw255314a 
 
LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

PARTIAL CONVERSION OF LOAN

LONDON: 25 MARCH 2015 - ECR Minerals plc announces the issue and allotment of
74,798,658 new ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") at a price of £0.001341 (0.1341 pence) per share pursuant to the
conversion of US$150,000 of outstanding principal amount under the Company`s
convertible loan facility (the "Facility") with YA Global Master SPV Ltd ("YA
Global"). Accordingly, the outstanding principal amount will be reduced by
US$150,000, leaving a total of US$1,235,712 in principal amount outstanding
under the Facility. In addition, as announced on 9 February 2015, the Company
expects to draw down a further tranche of US$250,000 in principal amount under
the Facility on or about 1 April 2015. 

A further 11,858,576 new Ordinary Shares are to be issued and allotted to YA
Global at a price of £0.001341 (0.1341 pence) per share in settlement of accrued
interest. 

Pursuant to this announcement, application has been made for 86,657,234 new
Ordinary Shares of the Company to be admitted to trading on AIM. This is
expected to occur on 27 March 2015 ("Admission"). Following Admission, ECR`s
issued ordinary share capital will consist of 3,588,061,517 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 3,588,061,517 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/Emma Earl 

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 

Copyright Business Wire 2015