Business
EXERCISE OF WARRANTS
EXERCISE OF WARRANTS.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n EXERCISE OF WARRANTS\n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc\n \n \n (“ECR Minerals”, “ECR” or the “Company”)\n \n \n AIM: ECR\n \n \n US OTC: MTGDY\n \n \n EXERCISE OF WARRANTS\n \n \n LONDON: 25 SEPTEMBER 2013\n \n \n ECR Minerals plc announces the issue and allotment of 37,500,000 new \n ordinary shares of the Company at a price of 0.2p per share pursuant to \n the exercise of 37,500,000 share purchase warrants. Subscription monies \n of £75,000 have been received by ECR in respect of the exercise of these \n warrants.\n \n \n Stephen Clayson, Chief Executive Officer of ECR, commented:\n \n \n “We are pleased to note that all 392,500,000 warrants granted by ECR in \n connection with the redemption of convertible loan notes have now been \n exercised. Accordingly, no warrants remain outstanding and the proceeds \n of exercise received by the Company total £785,000. With no debt and \n more than £1 million in cash, ECR is in a stronger financial position \n than has been the case for many years.”\n \n \n Pursuant to this announcement, application has been made for 37,500,000 \n new ordinary shares of the Company to be admitted to trading on AIM. \n This is expected to occur on 1 October 2013. Following admission, ECR’s \n issued ordinary share capital will consist of 3,259,129,313 ordinary \n shares. The new ordinary shares will rank pari passu in all respects \n with the ordinary shares of the Company currently traded on AIM.\n \n \n The total of 3,259,129,313 ordinary shares may therefore be used by \n shareholders in the Company as the denominator for the calculations by \n which they will determine if they are required to notify their interest \n in, or a change in their interest in, the share capital of the Company \n under the FCA’s Disclosure and Transparency Rules.\n \n \n ABOUT ECR MINERALS PLC\n \n \n ECR is a mineral development company with, among other interests, the \n right to earn a 50% interest in the Itogon gold-silver project in the \n Philippines. The Itogon project is an advanced exploration project \n located in a gold and copper mining district on the island of Luzon in \n the north of the Philippines, and benefits from an extensive historical \n dataset.\n \n \n ECR also has 100% ownership of the Sierra de las Minas gold project in \n La Rioja Province, Argentina; ...