ECR MINERALS
plc
("ECR Minerals" or the
"Company")
Issue of Equity and Total
Voting Rights
PDMR
Dealing
ECR
Minerals plc (LON:ECR), the exploration and development company
focused on gold in Australia, is pleased to confirm that the new
ordinary shares awarded to Nick Tulloch, managing director, and
Mike Whitlow, chief operating officer pursuant to their
remuneration arrangements announced on 19 September 2023 have been
issued and allotted. Accordingly, each of Nick Tulloch and
Mike Whitlow have received 9,698,275 new ordinary shares, in lieu
of £22,500 of their remuneration for the period 15 December 2023 to
14 March 2024, at a price of 0.232p per share.
The total ordinary shares in ECR
Minerals currently held by Nick and Mike, as PDMRs of the Company,
are as follows:
Name
|
Shares in the Company Issued today
|
Total Shares in the Company now held
|
Percentage of the Company's issued equity
held
|
Nick Tulloch
|
9,698,275
|
22,555,417
|
1.39%
|
Mike Whitlow
|
9,698,275
|
22,555,417
|
1.39%
|
Total
|
19,396,550
|
|
|
Additional Issue of Equity
At the same time, the Company has
agreed to issue and allot 2,307,692 new ordinary shares in lieu of
£6,000 of fees owed by the Company in order to assist the Company
in conserving its cash resources. These shares have been
issued at a price of 0.26p, which was the volume weighted average
price for ECR Mineral's ordinary shares over the 14 trading days
prior to the date of the invoice.
Admission and Disclosure and Transparency
Rules
Application has been made for
21,704,242 new ordinary shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will become
effective on or around 15 March 2024. The new ordinary shares
will rank pari passu with the existing ordinary shares. Upon
Admission, ECR's issued ordinary share capital will comprise
1,619,086,760 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.
FOR
FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals
plc
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Tel: +44 (0) 20 7929 1010
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Nick Tulloch, Chairman
Andrew Scott, Director
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Email:
info@ecrminerals.com
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Website:
www.ecrminerals.com
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WH Ireland
Ltd
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Tel: +44 (0) 207 220 1666
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Nominated Adviser
Katy Mitchell / Andrew de Andrade
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SI Capital
Ltd
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Tel: +44 (0) 1483 413500
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Broker
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Nick Emerson
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Novum
Securities Limited
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Tel: +44 (0) 20 7399 9425
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Broker
Jon Belliss
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Brand
Communications
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Tel: +44 (0) 7976 431608
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Public & Investor
Relations
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Alan Green
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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.
ECR holds a 90% interest in the Danglay gold
project in the Philippines and a royalty on the SLM gold project in
La Rioja Province, Argentina which could potentially receive up to
US$2.7 million in aggregate across all licences.
2
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Nick Tulloch
|
2
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Reason for the notification
|
a)
|
Position/status
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Chairman
|
b)
|
Initial
notification/amendment
|
Initial notification
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3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
ECR Minerals plc
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b)
|
LEI
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213800PBXY96KXHISJ17
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4
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Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
ordinary shares of 0.001p
each
GB00BYYDKX57
|
b)
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Nature of the transaction
|
New ordinary shares
issued
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c)
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Price(s) and volume(s)
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Price(s)
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Volume(s)
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0.232p per share
|
9,698,275
|
|
|
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d)
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Aggregated information
- Aggregated
volume
- Price
|
9,698,275
0.232p
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e)
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Date of the transaction
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13 March 2024
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f)
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Place of the transaction
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London Stock Exchange
(XLON)
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1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
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Mike Whitlow
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2
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Reason for the notification
|
a)
|
Position/status
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Chief Operating Officer
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b)
|
Initial
notification/amendment
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Initial notification
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3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
ECR Minerals plc
|
b)
|
LEI
|
213800PBXY96KXHISJ17
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
ordinary shares of 0.001p
each
GB00BYYDKX57
|
b)
|
Nature of the transaction
|
New ordinary shares
issued
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
0.232p per share
|
9,698,275
|
|
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
9,698,275
0.232p
|
e)
|
Date of the transaction
|
13 March 2024
|
f)
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Place of the transaction
|
London Stock Exchange
(XLON)
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