Business
PLACEMENT OF SHARES
PLACEMENT OF SHARES.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n PLACEMENT OF SHARES\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: ECRUS OTC: MTGDY\n \n PLACEMENT OF SHARES TO RAISE £500,000\n \n \n \n \n LONDON: 30 AUGUST 2013\n \n \n ECR Minerals plc announces the placement of 158,528,852 new ordinary \n shares of the Company of 0.1p each at a price of 0.3154p per share for \n cash proceeds of £500,000. No commission is payable by ECR in connection \n with the placement, and the full amount of the proceeds will be applied \n to fund the activities of the Company, including the ongoing review of \n potential new gold projects in the Asia Pacific region, and for the \n anticipated commencement of operations by the Company at the Itogon \n gold-silver project in the Philippines later this year.\n \n \n Stephen Clayson, Chief Executive Officer of ECR, commented:\n \n \n “I am pleased to report that this placement of shares has been completed \n at more than three times the price of the last placement in June of this \n year. This reflects the significant progress made by the business since \n then.”\n \n \n Pursuant to this announcement, application has been made for a total of \n 158,528,852 new ordinary shares of the Company to be admitted to trading \n on AIM. This is expected to occur on 5 September 2013. Following \n admission, ECR’s issued ordinary share capital will consist of \n 2,884,129,313 ordinary shares. The new ordinary shares will rank pari \n passu in all respects with the ordinary shares of the Company currently \n traded on AIM.\n \n \n The total of 2,884,129,313 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 ...