- Elcora (ERA) has closed a second and final tranche of its non-brokered private placement for aggregate gross proceeds of $2,819,685.00
- The company issued 33,983,700 units at a price of $0.05 per unit for gross proceeds of $1,699,185.00 for the final tranche
- Upon meeting certain criteria, the company may accelerate the expiry date of the warrants
- Elcora intends to use the net proceeds for general working capital purposes
- Elcora Advanced Materials Corp is a graphite and graphene company
- Elcora Advanced Materials Corp. (ERA) opened trading at C$0.10 per share
Elcora (ERA) has closed a second and final tranche of its non-brokered private placement for aggregate gross proceeds of $2,819,685.00.
Elcora issued 22,410,000 units at a price of $0.05 per unit for gross proceeds of $1,120,500 for the first tranche of the private placement.
The company issued 33,983,700 units at a price of $0.05 per unit for gross proceeds of $1,699,185.00 for the final tranche.
Each unit will consist of one common share and one share purchase warrant.
In the event that Elcora’s common shares trade at a closing price of greater than $0.50 for ten consecutive trading days, the company may accelerate the expiry date of the warrants.
No finder’s fees will be paid with respect to this offering.
Elcora intends to use the net proceeds for general working capital purposes.
Elcora processes, refines and produces both graphite & graphene. Elcora has developed a cost-effective process to make high-quality graphite, graphite products and graphene that are commercially scalable.
Elcora Advanced Materials Corp. (ERA) opened trading at C$0.10 per share.