Eloro doubles bought deal offering to $10-million

Executive Summary

• Eloro Resources Ltd. upsized its bought‑deal private placement from C$5.0 M to C$10.0 M, selling 8,696,000 units at $1.15 per unit.
• The offering includes an overallotment option for up to an additional 1.74 M units (≈C$2.0 M).
• Net proceeds will fund continued exploration and development of the Iska Iska project in southern Bolivia and support general corporate purposes and working capital.

Key Details

• Units Offered: 8,696,000 units (each unit = 1 common share + ½ warrant).
• Price per Unit: $1.15.
• Gross Proceeds Target: C$10,000,400 (up from the originally announced C$5,000,200).
• Overallotment Option: Up to 1,740,000 additional units at the same price, potentially adding up to C$2,001,000 in gross proceeds.
• Warrant Terms: Each whole warrant allows purchase of one common share at $1.60, exercisable any time up to 36 months after closing.
• Underwriter/Bookrunner: Red Cloud Securities Inc., sole underwriter and book‑runner.
• Use of Proceeds: Primarily for exploration and development of the Iska Iska project (southern Bolivia); remainder for general corporate purposes and working capital.
• Regulatory Framework: Offered under NI 45‑106 listed issuer financing exemption (Part 5A) to Canadian residents in BC, AB, MB, SK, ON (and with consent QC); offshore/U.S. investors via applicable exemptions.
• Trading Rights: Units expected to be freely tradable immediately for Canadian purchasers; other securities subject to a hold period of 4 months + 1 day.
• Closing Date: Scheduled for September 4, 2025, or earlier/later by mutual agreement.
• Conditions to Closing: Subject to receipt of all required approvals, including Toronto Stock Exchange approval.

Notable Quotes

(No direct quotes provided in the release.)