REG - ECR Minerals PLC - Result of General Meeting & Total Voting Rights

ECR MineralsAnnouncement

06/10/2023 16:15

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RNS Number : 0318P  ECR Minerals PLC  06 October 2023

ECR MINERALS plc

("ECR Minerals" or the "Company")

Result of General Meeting

Total Voting Rights

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, is pleased to announce that at the General Meeting
("GM") held earlier today, all resolutions put to shareholders were duly
passed.

ECR Managing Director Nick Tulloch commented: "I am delighted to report the
resolutions put to shareholders at the GM today were unanimously passed,
including the motion to increase the Company share capital. As a result,
subject to receiving the subscription monies, the funds from the £580,000
raised will be utilised to advance the Company's extensive existing assets, to
progress new opportunities and for working capital purposes. I am also pleased
to see the Director Share Agreement and Salary Sacrifice schemes implemented,
which we expect to contribute significantly to a reduction in cash burn. We
are grateful for the support and confidence shown by both our existing
shareholders and new investors."

ECR Chairman David Tang added: "I am pleased that as a result of all
resolutions put to the GM being passed, our restructured board are fully
united and aligned with shareholders. I look forward to supporting Nick
Tulloch, Mike Whitlow and the rest of the Board as we restructure and
streamline ECR operations."

Admission and Disclosure and Transparency Rules

Application will be made for 331,392,843 New Ordinary Shares and 6,857,142
Advisor Shares to be admitted to trading on AIM ("Admission") and it is
expected that Admission will become effective on or around 10 October 2023.
The New Ordinary Shares and Advisor Shares will rank pari passu with the
existing ordinary shares. Upon Admission, ECR's issued ordinary share capital
will comprise 1,546,226,000 ordinary shares of 0.001p. This number will
represent the total voting rights in the Company, and, following admission may
be used by shareholders as the denominator for the calculation by which they
can determine if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.

The Existing Directors Shares and the New Directors Shares will be issued in
accordance with the timetable set out in the announcement of 18 September
2023, and further announcements will be made at those times.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 David Tang, Non-Executive Chairman

 Nick Tulloch, Managing Director

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 WH Ireland Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 207 220 1666
 Nominated Adviser

 Katy Mitchell / Andrew de Andrade

 SI Capital Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 1483 413500
 Broker
 Nick Emerson

 Novum Securities Limited                                                                                                                                                                                                                                   Tel: +44 (0) 20 7399 9425
 Broker

 Jon Belliss

 Brand Communications                                                                                                                                                                                                                                       Tel: +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

ABOUT ECR MINERALS PLC

 

ECR Minerals is a mineral exploration and development company. ECR's wholly
owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100%
ownership of the Bailieston and Creswick gold projects in central Victoria,
Australia, has six licence applications outstanding which includes one licence
application lodged in eastern Victoria (Tambo gold project).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX")
which has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company also has an option to acquire 100% of Placer Gold, which wholly owns
the Hurricane Project, a later stage gold and antimony project located west
of Cairns in the Hodgkinson Province, NE Queensland.

 

Following the sale of the Avoca, Moormbool and Timor gold projects in
Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the
subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd
(TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up
to A$2 million in payments subject to future resource estimation or production
from projects sold to Fosterville South Exploration Limited.

 

ECR holds a 90% interest in the Danglay gold project; an advanced exploration
project located in a prolific gold and copper mining district in the north of
the Philippines, which has a 43-101 compliant resource. ECR also holds a
royalty on the SLM gold project in La Rioja Province, Argentina and can
potentially receive up to US$2.7 million in aggregate across all licences.

 

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