ECR MINERALS PLC - Share Issue/Capital Change 2021

National Storage Mechanism | Additional information

Warrant Exercise & Appointment of Joint Broker

25 January 2021

ECR MINERALS PLC

(“ECR Minerals”, “ECR” or the “Company”)

**WARRANT EXERCISE

APPOINTMENT OF JOINT BROKER**

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to announce an update confirming a significant warrant exercise, the current financial position of the Company and the appointment of a joint broker.

Exercise of Warrants (“Warrant Shares”)

ECR has received notice to exercise warrants over 55,856,391 new ordinary shares in the Company (“Warrant Shares”). Of this number, 55,356,391 new ordinary shares are being issued pursuant to the exercise of warrants at 2p per share, and 500,000 new ordinary shares pursuant to the exercise of warrants at 1.125p per share. Aggregate subscription monies of £1,112.752.82 have been received by ECR in respect of the exercise of these warrants.

Company Financial Position

Following receipt of the above warrant monies ECR now has cash balances of c.£4 million and is therefore, in the Board’s view, in an exceptionally strong financial position.

This strength of the Company’s financial position enables ECR to comfortably continue to embark on its previously announced exploration programmes with confidence.

With our own in-house drilling capability we are planning to undertake extensive drill programmes across our Victoria Goldfields interests.

Appointment of Joint Broker

ECR is pleased to announce that it has appointed Novum Securities (“Novum") as a joint broker with immediate effect. With the current cash position ECR currently has no intention of carrying out a placing.

Novum are to undertake broker research on ECR Minerals plc, with a particular focus on enhancing market awareness of the Company, notably in the institutional investor community.

Admission of Shares

Admission of the Warrant Shares to trading on AIM is expected to occur on or around 28 January 2021 (“Admission”). Upon Admission, ECR’s issued ordinary share capital will comprise 749,333,993 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission of the Warrant Shares, 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 Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:


ECR Minerals plc		Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
Email: [email protected]
Website: www.ecrminerals.com

WH Ireland Ltd		Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford

SI Capital Ltd		Tel: +44 (0)1483 413500
Broker
Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia. ECR is currently drilling high priority targets on the Bailieston gold project using the Company’s own diamond drill rig. ECR has an experienced exploration team with significant local knowledge in the Victoria Goldfields.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at those projects.

ECR has earned a 25% 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, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.