REG - ECR Minerals PLC - Update in relation to subscription to raise £950k

ECR MineralsAnnouncement

05/12/2024 16:30

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RNS Number : 0339P  ECR Minerals PLC  05 December 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

5 December 2024

 

ECR MINERALS PLC

 

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

 

Update in relation to subscription to raise £950,000

 

 

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, provides the following update in respect of the
Company's subscription to raise £950,000 (the "Subscription"), which was
announced on 25 November 2024.

 

On 25 November 2024, the Company announced, inter alia, that application
would be made to the London Stock Exchange Plc for 287,878,787 new ordinary
shares of 0.001 pence each in the Company ("Ordinary Shares") to be admitted
to trading on AIM ("Admission") and it was expected that Admission would
become effective on or around 9 December 2024.

 

ECR has been informed by the Company's broker acting on the Subscription that
Admission will take place on 16 December 2024. The Subscription letter
erroneously referenced 9 December 2024 as the admission date but it was always
the broker's original intention that the 287,878,787 new Ordinary Shares were
to be admitted to trading on AIM on 16 December 2024.

 

Accordingly, the Company has updated its application to the London Stock
Exchange plc for the 287,878,787 new Ordinary Shares to be admitted to trading
on AIM on 16 December 2024.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals Plc                                                                                                                                                                                                                                   Tel: +44 (0) 1738 317 693
 Nick Tulloch, Chairman

 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)

 Allenby Capital Limited                                                                                                                                                                                                                            Tel: +44 (0) 20 3328 5656
 Nominated Adviser                                                                                                                                                                                                                                  info@allenbycapital.com (mailto:info@allenbycapital.com)

 Nick Naylor / Alex Brearley / Vivek Bhardwaj

 Axis Capital Markets Limited                                                                                                                                                                                                                       Tel: +44 (0) 203 026 0320
 Broker
 Ben Tadd / Lewis Jones

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

 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 has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North 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), MGA 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.

 

MGA also has approximately A$75 million of unutilised tax losses incurred
during previous operations.

 

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