Eloro increases private placement to $11-million

Executive Summary

• Eloro Resources upsizes its bought‑deal private placement, increasing gross proceeds from C$10.0 M to C$11.0 M (potentially up to C$14.0 M if the overallotment option is exercised).
• Red Cloud Securities will purchase 9,566,000 units at $1.15 per unit; an overallotment option for up to 2,609,000 additional units is available.
• Net proceeds are earmarked for continued exploration and development of the Iska Iska project in southern Bolivia, plus general corporate purposes and working capital.

Key Details

• Upsized Offering Size: Gross proceeds increased to C$11,000,900 (originally C$10,000,400).
• Units Offered: 9,566,000 units at $1.15 per unit. Each unit = 1 common share + ½ warrant.
• Warrant Terms: Whole warrant allows purchase of one additional common share at $1.60, exercisable any time up to 36 months after closing.
• Overallotment Option: Red Cloud may purchase up to an additional 2,609,000 units at the same price, potentially raising total gross proceeds to C$14,001,250.
• 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 (British Columbia, Alberta, Manitoba, Saskatchewan, Ontario; optional Quebec). Units expected to be freely tradable in Canada immediately upon issuance. Offshore/U.S. sales subject to applicable exemptions and hold periods (four months + one day).
• Closing Date: Scheduled for September 4, 2025, or earlier/later by mutual agreement. Closing subject to customary conditions, including TSX approval.
• Underwriter/Bookrunner: Red Cloud Securities Inc., sole underwriter and bookrunner.

Notable Quotes

(No executive quotes provided in the release.)