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

ECR MineralsAnnouncement

04/11/2015 10:10

Partial Conversion of Loan
ECR MINERALS plc
      (ECR Minerals, ECR or the Company)    
      AIM: ECR    
      US OTC: MTGDY    
PARTIAL CONVERSION OF LOAN
LONDON: 4 NOVEMBER 2015 - ECR Minerals plc announces the issue       and allotment of 244,293,785 new ordinary shares of 0.001 pence each in       the Company (Ordinary Shares) at a price of 0.0531 pence per share       pursuant to the conversion of US$200,000 of outstanding principal amount       under the Companys convertible loan facility (the Facility) with YA       Global Master SPV Ltd (YA Global). Accordingly, the outstanding       principal amount will be reduced by US$200,000, leaving a total of       US$300,000 in principal amount outstanding under the Facility.    
      A further 20,330,132 new Ordinary Shares are to be issued and allotted       to YA Global at a price of 0.0531 pence per share in settlement of       accrued interest.    
      Pursuant to this announcement, application has been made for 264,623,917       new Ordinary Shares of the Company to be admitted to trading on AIM.       This is expected to occur on 10 November 2015 (Admission). Following       Admission, it is expected that ECRs issued ordinary share capital will       consist of 5,439,367,772 Ordinary Shares. The new Ordinary Shares will       rank pari passu in all respects with the Ordinary Shares of the Company       currently traded on AIM.    
FOR FURTHER INFORMATION PLEASE CONTACT:
          ECR Minerals plc        
                  
          Tel: +44 (0)20 7929 1010        
          William (Bill) Howell, 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        
                  
          Vicarage Capital Ltd        
          Tel: +44 (0)203 651 2910        
          Broker        
          Rupert Williams/Jeremy Woodgate        
                  
View source version on businesswire.com: http://www.businesswire.com/news/home/20151104005687/en/
      ECR Minerals plc