Elcora Resources Private Placement

About this update from Elcora Advanced Materials Corp.

[{"type":"text","content":"Elcora Resources Private Placement(via Thenewswire.ca)\n \n \nCOLOMBO, SRI LANKA / TNW-ACCESSWIRE / August6, 2014 / Troy Grant, President and CEO of ELCORA RESOURCES CORP. (TSXV : ERA), (the \"Company\" or \"Elcora\"), is pleased to announce:\n\n \n \nPrivate Placement Tranche #1\n\n \n \nThe Company has filed for approval the first tranche of its non-brokered private placement of up to $1,500,000 (4,285,714 Units) at a price of $0.35 per Unit.\n\n \n \nTranche 1 totals 1,993,929 Units to 23 placees to gross $697,875 to treasury. Each unit is comprised of one common share and one share purchase warrant, with each share purchase warrant exercisable for 18 months at an exercise price of $0.43 per share. The shares and any shares issued pursuant to an exercise of the share purchase warrants are subject to a four-hold period commencing on the date of the issuance of the Units. Commissions of 6% totaling $40,078 will be paid and 53,438 agents' warrants (8%) exercisable at $0.43/share for 18 months will be issued in connection with this private placement.\n\n \n \nThe Company continues to seek further financing to complete the proposed 2,000,000 total private placement. \n\n \n \nThe net proceeds from tranche #1 of the private placement will be used for working capital including advancing the Company's Sakura graphite project in Sri Lanka.\n\n \n \nThe private placement is subject to regulatory approval.\n\n \n \nFor further information please visit the company's website at http://www.elcoraresources.com\n\n \n \nFor further information please contact: Troy Grant, Director, President and CEO, Elcora Resources Corp., T: 902 802-8847 F: 902 446-2001.\n\n \n \nCAUTIONARY STATEMENT:\n\n \n \nThe TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain \"forward-looking statements\". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statem...

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