REG-ECR Minerals plc Warrant Exercise & Appointment of Joint Broker

ECR MineralsAnnouncement

25/01/2021 10:00

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Warrant Exercise & Appointment of Joint Broker

 

25 January 2021

ECR MINERALS PLC

(“ECR Minerals”, “ECR” or the “Company”)

WARRANT EXERCISE

&

APPOINTMENT OF JOINT BROKER

ECR Minerals plc (LON: ECR), the gold exploration and development company
focussed on Australia, is pleased to announce an update confirming a
significant warrant exercise, the current financial position of the Company
and the appointment of a joint broker.

Exercise of Warrants (“Warrant Shares”)

ECR has received notice to exercise warrants over 55,856,391 new ordinary
shares in the Company (“Warrant Shares”). Of this number, 55,356,391 new
ordinary shares are being issued pursuant to the exercise of warrants at 2p
per share, and 500,000 new ordinary shares pursuant to the exercise of
warrants at 1.125p per share. Aggregate subscription monies of £1,112.752.82
have been received by ECR in respect of the exercise of these warrants.

Company Financial Position

Following receipt of the above warrant monies ECR now has cash balances of
c.£4 million and is therefore, in the Board’s view, in an exceptionally
strong financial position.

This strength of the Company’s financial position enables ECR to comfortably
continue to embark on its previously announced exploration programmes with
confidence.

With our own in-house drilling capability we are planning to undertake
extensive drill programmes across our Victoria Goldfields interests.

Appointment of Joint Broker

ECR is pleased to announce that it has appointed Novum Securities (“Novum")
as a joint broker with immediate effect. With the current cash position ECR
currently has no intention of carrying out a placing.

Novum are to undertake broker research on ECR Minerals plc, with a particular
focus on enhancing market awareness of the Company, notably in the
institutional investor community.

Admission of Shares

Admission of the Warrant Shares to trading on AIM is expected to occur on or
around 28 January 2021 (“Admission”). Upon Admission, ECR’s issued
ordinary share capital will comprise 749,333,993 ordinary shares of 0.001p.
This number will represent the total voting rights in the Company, and,
following admission of the Warrant Shares, 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 Warrant Shares will rank pari passu in all respects with the
ordinary shares of the Company currently traded on AIM.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR). Upon the publication of this announcement via
Regulatory Information Service (RIS), this inside information is now
considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:
 ECR Minerals plc                                                                                                                                                                                                                                        Tel: +44 (0)20 7929 1010      
 David Tang, Non-Executive Chairman                                                                                                                                                                                                                                                    
 Craig Brown, Director & CEO                                                                                                                                                                                                                                                           
 Email:                                                                                                                                                                                                                                                                                
 
                                                                                                                                                                                                                                                                                     
 info@ecrminerals.com (mailto:info@ecrminerals.com)                                                                                                                                                                                                                                    
 Website: www.ecrminerals.com                                                                                                                                                                                                                                                          
 (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=52366711&newsitemid=20210125005304&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=7321c25b4bf4880a1691439ceac4abbc)                                                                 
                                                                                                                                                                                                                                                                                       
 WH Ireland Ltd                                                                                                                                                                                                                                          Tel: +44 (0)161 832 2174      
 Nominated Adviser                                                                                                                                                                                                                                                                     
 Katy Mitchell/James Sinclair-Ford                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                       
 SI Capital Ltd                                                                                                                                                                                                                                          Tel: +44 (0)1483 413500       
 Broker                                                                                                                                                                                                                                                                                
 Nick Emerson                                                                                                                                                                                                                                                                          


ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned
Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of
the Bailieston and Creswick gold projects in central Victoria, Australia. ECR
is currently drilling high priority targets on the Bailieston gold project
using the Company’s own diamond drill rig. ECR has an experienced
exploration team with significant local knowledge in the Victoria Goldfields.

Following the sale of the Avoca, Moormbool and Timor gold projects in
Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has
the right to receive up to A$2 million in payments subject to future resource
estimation or production at those projects.

ECR has earned a 25% 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, and holds a royalty on the SLM gold project in
La Rioja Province, Argentina.



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ECR Minerals plc


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