Eloro Resources increases financing to $15-million

Executive Summary

• Eloro Resources Ltd. has upsized its previously announced bought deal private placement from gross proceeds of approximately $10 million to $15 million due to strong investor demand.
• The company will issue 5,769,300 common shares at a price of $2.60 per share, with an additional overallotment option for up to 769,300 shares.
• Net proceeds will be used for the continued exploration and development of the Iska Iska project in Bolivia, as well as general corporate purposes and working capital.

Key Details

• Transaction Structure: Upsized bought deal private placement.
• Gross Proceeds: Increased from $10,000,120 to $15,000,180.
• Share Price: $2.60 per common share.
• Shares Issued: 5,769,300 common shares.
• Underwriters: Red Cloud Securities Inc. and Cantor Fitzgerald Canada Corp. (co-lead underwriters and joint bookrunners).
• Overallotment Option: Option to purchase up to an additional 769,300 shares at $2.60 per share for additional gross proceeds of up to $2,000,180.
• Use of Proceeds: Continued exploration and development of the Iska Iska project (southern Bolivia), general corporate purposes, and working capital.
• Regulatory Exemptions:
  • Offered in Canada (except Quebec) under the listed issuer financing exemption (NI 45-106).
  • Offered in the US via private placement exemptions from the Securities Act of 1933.
  • Offered outside Canada under OSC Rule 72-503 (no four-month hold period for non-Canadian purchasers).
  • Other shares subject to a four-month and one-day hold period in Canada.
• Closing Date: Scheduled for March 6, 2026, subject to conditions including Toronto Stock Exchange approval.
• Offering Document: An amended and restated offering document is available on SEDAR+ and the company website.

Notable Quotes

• None provided in the text.