ECR Minerals launches retail offer to raise up to £100,000

LONDON - ECR Minerals plc (AIM:ECR), a gold exploration and development company focused on Australia, announced Wednesday a retail offer via the Winterflood Retail Access Platform (WRAP) to raise up to £100,000 through the issuance of new ordinary shares.

The company plans to issue up to 50 million new ordinary shares at 0.20 pence per share through the WRAP Retail Offer. This follows an earlier announcement of a separate £650,000 subscription involving 325 million new shares at the same price.

The retail offer is open to existing ECR shareholders in the United Kingdom through participating financial intermediaries, with a minimum subscription requirement of £100 per investor. The offer is expected to close at 4:30 p.m. on October 3.

ECR stated that completion of the retail offer is conditional upon the completion of the subscription, though the subscription itself is not dependent on the retail offer. The company expects admission of the new shares to trading on AIM around October 8.

The company reserves the right to amend the size of the retail offer, scale back orders, or reject applications without providing reasons. Applications, once accepted, cannot be withdrawn.

New shares will rank equally with existing ordinary shares, including rights to dividends and distributions declared after issuance.

The retail offer is being made under the exemption from publishing a prospectus in section 86(1)(e) of the Financial Services and Markets Act 2000 and is only available to investors in the United Kingdom.

According to the company’s press release statement, the retail offer reflects ECR’s commitment to providing its existing retail shareholders the opportunity to participate in its fundraising activities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.