Business
Eloro Resources Announces C$5 Million Bought Deal Financing
Eloro Resources Announces C$5 Million Bought Deal Financing Canada NewsWire ...
About this update from Eloro Resources Ltd.
[{"type":"text","content":"\n \n \n \n Eloro Resources Announces C$5 Million Bought Deal Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 12, 2022\n \n \n /CNW/ - Eloro Resources Ltd. (the \"\n \n Company\n \n \" or \"\n \n Eloro\n \n \") (TSXV: ELO) (OTCQX: ELRRF) (FSE: P2QM) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. to act as sole underwriter (the \"\n \n Underwriter\n \n \"), pursuant to which the Underwriter has agreed to purchase, on a bought deal basis, 1,538,480 units (the \"\n \n Units\n \n \") at a price of\n \n C$3.25\n \n per Unit (the \"\n \n Issue Price\n \n \") for gross proceeds to the Company of\n \n C$5,000,060\n \n (the \"\n \n Offering\n \n \").\n \n \n Each Unit will consist of one common share (a \"\n \n Common Share\n \n \") in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a \"\n \n Warrant\n \n \") of the Company. Each Warrant shall be exercisable to acquire one Common Share (a \"\n \n Warrant Share\n \n \") at a price per Warrant Share of\n \n C$4.75\n \n for a period of 24 months from the closing date of the Offering.\n \n \n In addition, the Company has agreed to grant to the Underwriter an option to purchase up to an additional 15% of the number of Units sold under the Offering at a price per Unit equal to the Issue Price, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering.\n \n \n The net proceeds from the Offering will be used for exploration and development at the Company's projects in\n \n Bolivia\n \n and\n \n Peru\n \n , and for general working capital and corporate purposes as set out in the Prospectus Su...