ECR Minerals PLC Result of General Meeting & Total Voting Rights (0318P)
October 06 2023 - 10:08AM
UK Regulatory
TIDMECR
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 GBP580,000 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
Website: www.ecrminerals.com
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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END
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