Eloro Resources Announces C$10 Million Private Placement

Eloro Resources Ltd. has finalized an agreement for a private placement, securing gross proceeds of C$10 million. This transaction has been structured as a "bought deal" with Red Cloud Securities Inc. and Cantor Fitzgerald Canada Corporation serving as co-leads. Together, they will purchase 3,846,200 common shares at C$2.60 each.

The funds raised will primarily support the Iska Iska project in Bolivia, alongside general corporate needs. An additional option for underwriters allows for the purchase of 769,300 more shares, potentially raising an extra C$2 million.

The Offering aligns with Canadian National Instrument 45-106, permitting free trade of shares for Canadian buyers, excluding Quebec. Completion hinges on receiving necessary approvals, including from the Toronto Stock Exchange, with closing set for March 6, 2026.