ECR.L

ECR Minerals Plc
ECR Minerals PLC - Update in relation to subscription to raise £950k
5th December 2024, 16:17
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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


Website: www.ecrminerals.com




Allenby Capital Limited

Tel: +44 (0) 20 3328 5656

Nominated Adviser 

Nick Naylor / Alex Brearley / Vivek Bhardwaj

info@allenbycapital.com

 



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 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 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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