ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
US OTC: MTGDY
London: 15 May 2012 - ECR Minerals plc announces that it has issued and allotted a total of 13,500,168 ordinary shares of 0.1p (“Ordinary Shares”) to YA Global SPV Ltd (“YA Global”) at 0.667p per share in connection with an advance of £90,000 (the “Advance”) under the Company’s Standby Equity Distribution Agreement (SEDA) with YA Global.
The proceeds of the Advance will be used to provide working capital for the Company’s gold exploration activities in Argentina and for general corporate purposes.
Pursuant to this announcement application will be made for a total of 13,500,168 Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 21 May 2012. Following admission the Company will have a total of 727,409,600 Ordinary Shares in issue. 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|
|Patrick Harford, Executive Chairman|
|Stephen Clayson, Director & Chief Financial Officer|
|Daniel Stewart & Company plc|
|Paul Shackleton/Tessa Smith/David Hart||Tel:||+44 (0) 20 7776 6550|
|Old Park Lane Capital plc|
|Michael Parnes||Tel:||+44 (0) 20 7493 8188|
|Blythe Weigh Communications|
|Matthew Neal/Tim Blythe/Paul Weigh||Tel:||+44 (0)20 7138 3204|