ECR MINERALS PLC

Remuneration Information • Sep 17, 2024

National Storage Mechanism | Additional information

RNS Number : 4103E

ECR Minerals PLC

17 September 2024

17 September 2024

ECR MINERALS PLC

("ECR Minerals", "ECR" or the "Company")

Issue of Equity, Total Voting Rights

and

PDMR Dealings

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, Chairman, and Mike Whitlow, Managing Director, pursuant to their remuneration arrangements announced by ECR on 19 September 2023, have been issued and allotted.

Accordingly, each of Nick Tulloch and Mike Whitlow have received 9,375,000 new ordinary shares of 0.001 pence each in ECR ("Ordinary Shares") as payment in lieu of £22,500 of accrued remuneration for the period 15 June 2024 to 14 September 2024, at an issue price of 0.24 pence per new Ordinary Share, being in this instance a price equal to the volume weighted average price of Ordinary Shares calculated over the previous 14 days, (together the "Fee Shares").

Additional Issue of Equity

At the same time, the Company has agreed to issue and allot 2,500,000 new Ordinary Shares as payment in lieu of £6,000 of accrued fees owed by the Company in order to assist the Company in conserving its cash resources. These new Ordinary Shares have also been issued at an issue price of 0.24 pence per new Ordinary Share, which was the volume weighted average price for Ordinary Shares over the 14 trading days prior to the date of the invoice.

In total 21,250,000 new Ordinary Shares have been issued by the Company. Following this issuance the total Ordinary Shares currently held by Nick Tulloch and Mike Whitlow, as Persons Discharging Managerial Responsibility ("PDMRs") of the Company, are as follows:

Name	Fee Shares issued	Total Ordinary Shares now held in the Company	As a percentage of the Company's enlarged issued ordinary share capital
Nick Tulloch	9,375,000	39,430,417	2.08%
Mike Whitlow	9,375,000	39,430,417	2.08%
Total	18,750,000

The FCA notification in respect of these PDMR dealings, made in accordance with the requirements of the UK Market Abuse Regulation, is appended further below.

Admission and Disclosure Guidance and Transparency Rules

Application has been made for 21,250,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 23 September 2024. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. Upon Admission, ECR's issued ordinary share capital will comprise 1,892,760,911 Ordinary Shares. 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 Guidance and Transparency Rules.

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) 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.  ECR holds 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.

MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

Director/PDMR MAR disclosures

The following notification, made in accordance with the requirements of the UK Market Abuse Regulation, gives further details.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Name	Position
Nick Tulloch	Executive Chairman
Mike Whitlow	Managing Director

2

Reason for the notification

a)

Position/status

See above

b) 

Initial notification /Amendment

Initial notification

3 

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 in ECR Minerals plc   

Identification code (ISIN) for ECR Minerals plc ordinary shares: GB00BYYDKX57

b)

Nature of the transaction

Issue of Fee Shares 

c)

Price(s) and volume(s)

Name	Price(s)	Volume(s)
Nick Tulloch	0.24p	9,375,000
Mike Whitlow	0.24p	9,375,000

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A 

e)

Date of the transaction

16 September 2024

f)

Place of the transaction

Outside a trading venue

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