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

ECR MineralsAnnouncement

07/05/2015 13:40

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20150507:nBw075732a 
 
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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: 7 MAY 2015 - ECR Minerals plc announces the issue and allotment of
58,917,710 new ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") at a price of £0.001118 (0.1118 pence) per share pursuant to the
conversion of US$100,000 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$100,000, leaving a total of US$1,285,712 in principal amount outstanding
under the Facility. 

A further 923,828 new Ordinary Shares are to be issued and allotted to YA Global
at a price of £0.001118 (0.1118 pence) per share in settlement of accrued
interest. 

Pursuant to this announcement, application has been made for 59,841,538 new
Ordinary Shares of the Company to be admitted to trading on AIM. This is
expected to occur on 12 May 2015 ("Admission"). Following Admission, ECR`s
issued ordinary share capital will consist of 3,713,166,342 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 3,713,166,342 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                                                                          
 Martin Lampshire                                                                
 
 
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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