Elcora Closes Final Tranche of Private Placement

Executive Summary

• Elcora Advanced Materials Corp. closed the third and final tranche of its previously announced non‑brokered private placement, bringing total gross proceeds to $2,999,040.48 for 24,992,004 Units at $0.12 per Unit.
• Each Unit consists of one common share and one warrant exercisable at $0.16 per share for 24 months; no finders’ fees were paid and no control person was created.
• The proceeds will be used for general working capital, and the offering increased Skyline Resources Trading FZE’s ownership to ~14.85% (undiluted) of the company.

Key Details

• Total Gross Proceeds: $2,999,040.48 (combined across all three tranches).
• Units Sold: 24,992,004 Units at $0.12 per Unit.
• Unit Composition: 1 common share + 1 warrant per Unit.
• Warrant Terms: Exercisable for an additional share at $0.16 per share; valid for 24 months from issuance.
• First & Second Tranche Proceeds: Approximately $2,250,000 for 18,749,999 Units (as previously disclosed).
• Director Participation: One director purchased 2,000,001 Units for approximately $240,000.
• Subscriber (Skyline Resources Trading FZE): Acquired 6,242,005 Units; now holds 6,242,005 shares and 6,242,005 warrants (~14.85% undiluted, ~18.63% fully diluted).
• Use of Proceeds: General working capital purposes.
• Regulatory Hold Period: Securities subject to a statutory hold period of four months plus one day.
• Escrow Arrangement: Subscriber’s securities held in escrow pending final clearance by the Exchange.
• MI 61‑101 Disclosure: Transaction exempt from formal valuation and minority shareholder approval because neither fair market value nor consideration exceeds 25% of market capitalization.

Notable Quotes

(No direct quotes were provided in the release.)