Source: Eloro Resources.
  • Eloro Resources (ELO) has closed a bought deal private placement for total gross proceeds of C$10,919,570
  • Eloro issued 3,466,530 units at a price of C$3.15 per unit
  • The net proceeds will be used primarily for exploration and development at the company’s projects in Bolivia
  • Eloro is an exploration and development company with a portfolio of properties in Bolivia, Peru and Quebec
  • Eloro Resources Ltd. (ELO) opened trading at $3.13

Eloro Resources (ELO) has closed a bought deal private placement for total gross proceeds of C$10,919,570.

Eloro issued 3,466,530 units at a price of C$3.15 per unit, including the partial exercise of the agents’ over-allotment option. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of C$4.25 for 24 months.

The offering was led by Cantor Fitzgerald Canada Corporation as lead underwriter and sole bookrunner with Cormark Securities Inc., Haywood Securities Inc., National Bank Financial Inc., Scotia Capital Inc., and Stifel Nicolaus Canada Inc. as part of the syndicate of underwriters. The underwriters received a cash commission of C$655,174.

The net proceeds will be used for exploration and development at the company’s projects in Bolivia and for general working capital.

Eloro is an exploration and development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec.

Eloro Resources Ltd. (ELO) opened trading at $3.13.


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