Eloro Resources Ltd. (TSXV: ELO) has entered into an agreement with Cantor Fitzgerald Canada Corporation to act as sole underwriter, under which the Underwriter has agreed to purchase, on a bought deal basis, 3,200,000 units at a price of C$3.15 per Unit for gross proceeds to the company of C$10,080,000.
In addition, the company has agreed to grant to the Underwriter an option to purchase up to an additional 15% of the number of Units sold under the Offering at a price per Unit equal to the Issue Price, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering.
The net proceeds from the Offering will be used for exploration and development at the company’s projects in Bolivia, and for general working capital and corporate purposes as set out in the Prospectus Supplement.
The Offering is scheduled to close on or about January 27, 2023 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV.
About Eloro Resources Ltd
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia.
Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.
For further information please visit: https://elororesources.com/
