Eloro Resources Announces Bought Deal LIFE Private Placement for Gross Proceeds of C$10.0 Million

Executive Summary

• Eloro Resources entered into an underwriting agreement with Red Cloud Securities and Cantor Fitzgerald Canada to sell 3,846,200 common shares at C$2.60 per share for gross proceeds of C$10,000,120.
• The underwriters have a 48‑hour over‑allotment option for up to an additional 769,300 shares, potentially raising another C$2,000,180.
• Net proceeds will be used to fund continued exploration and development of the Iska Iska project in southern Bolivia and for general corporate purposes.

Key Details

• Offered Shares: 3,846,200 common shares.
• Offering Price: C$2.60 per share.
• Gross Proceeds (Base Offering): C$10,000,120.
• Over‑Allotment Option: Up to 769,300 additional shares at the same price, for up to C$2,000,180 extra gross proceeds.
• Underwriters / Bookrunners: Red Cloud Securities Inc. and Cantor Fitzgerald Canada Corporation (co‑lead underwriters).
• Closing Date: Expected on March 6, 2026 (subject to change).
• Use of Proceeds: Primarily for exploration and development of the Iska Iska project in Bolivia; also for general corporate purposes and working capital.
• Exemptions & Hold Periods:
• Up to 2,307,692 shares offered under the listed issuer financing exemption (NI 45‑106) – freely tradeable in Canada.
• Shares sold outside the exemption subject to a four‑month hold period in Canada; no hold for shares sold under OSC Rule 72‑503 or to non‑Canadian investors.
• Regulatory Conditions: Completion contingent on required approvals, including Toronto Stock Exchange approval.
• Securities Law Notices: Shares not registered under U.S. securities laws; cannot be offered/sold in the United States absent exemption/registration.

Notable Quotes

(No direct quotes were included in the release.)