Elcora closes $1.27-million second tranche of placement

Executive Summary

• Elcora Advanced Materials Corp. has closed the second tranche of its private placement, issuing 10,591,666 units at 12 cents per unit, raising approximately $1.27 million in gross proceeds.
• With the completion of this tranche, the company has now issued a total of 18,749,999 units and raised combined gross proceeds of approximately $2.25 million from both the first and second tranches.
• The offering allows for the issuance of up to 25 million units to raise up to $3 million in total; each unit consists of one common share and one warrant exercisable at 16 cents for 24 months.

Key Details

• Second Tranche Details:
  • Units Issued: 10,591,666 units
  • Price: 12 cents per unit
  • Gross Proceeds: Approximately $1,271,000
• First Tranche Details (for context):
  • Units Issued: 8,158,333 units
  • Price: 12 cents per unit
  • Gross Proceeds: Approximately $979,000
• Total Offering Status:
  • Total Units Issued to Date: 18,749,999 units
  • Total Gross Proceeds Raised: Approximately $2.25 million
  • Maximum Capacity: Up to 25 million units at 12 cents per unit for total gross proceeds of up to $3 million
• Security Structure:
  • Each unit consists of one common share and one share purchase warrant.
  • Warrant Terms: Exercisable for an additional share at a price of 16 cents.
  • Warrant Duration: 24 months from issuance.
• Insider Participation:
  • One director participated in the offering.
  • First Tranche Acquisition: 1,183,334 units.
  • Second Tranche Acquisition: 816,667 units.
  • Total Insider Acquisition: 1,999,999 units (approx. $240,000 in gross proceeds).
  • Classification: Related party transaction under Multilateral Instrument 61-101.
  • Exemption: Exempt from formal valuation and minority shareholder approval requirements as consideration and fair market value do not exceed 25% of market capitalization.
• Use of Proceeds: General working capital purposes.
• Regulatory & Legal:
  • No finders' fees were paid.
  • No new insider or control person was created.
  • Securities subject to a statutory hold period of four months plus a day.
  • Closing subject to regulatory approvals and final acceptance by the TSX Venture Exchange.
  • Filed pursuant to Form 4A on Dec. 29, 2025.

Notable Quotes

• None provided in the text.