Business
Eloro Resources Announces Upsize of Bought Deal LIFE Private Placement for Gross Proceeds of C$15 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. TORONTO, ON / ACCESS Newswire / February 25, 2026 /Eloro ...
About this update from Eloro Resources Ltd.
[{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.","length":190,"tagName":"p"},{"type":"text","content":"TORONTO, ON / ACCESS Newswire / February 25, 2026 / Eloro Resources Ltd. (TSX:ELO)(OTCQX:ELRRF)(FSE:P2QM) ("Eloro" or the "Company") is pleased to announce that as a result of strong investor demand, the Company and Red Cloud Securities Inc. ("Red Cloud") have agreed to increase the size of its previously announced "bought deal" private placement (the "Underwritten Offering") from gross proceeds of C$10,000,120 to gross proceeds of C$15,000,180. Pursuant to the upsized Underwritten Offering, Red Cloud and Cantor Fitzgerald Canada Corporation, as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (the "Underwriters"), will purchase for resale 5,769,300 common shares of the Company (the "Offered Shares") at a price of C$2.60 per Offered Share (the "Offering Price").","length":887,"tagName":"p"},{"type":"text","content":"The Company will grant to the Underwriters an option, exercisable up to 48 hours prior to the Closing Date (as defined herein), to purchase for resale up to an additional 769,300 Offered Shares at the Offering Price for additional gross proceeds of up to C$2,000,180 (the "Over-Allotment Option"). The Underwritten Offering and the Offered Shares issuable upon exercise of the Over-Allotment Option shall be collectively referred to as the "Offering".","length":471,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds of the Offering for continued exploration and development of the Iska Iska project in southern Bolivia as well as general corporate purposes and working capital.","length":205,"tagName":"p"},{"type":"text","content":"Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), up to 2,307,692 Offered Shares will be offered for sale to purchasers resident in all of the provinces of Canada except Québec pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated B...