By Devika Patel
Knoxville, Tenn., Dec. 3 - Eloro Resources Ltd. said it has increased a non-brokered private placement of units to C$1 million from C$800,000. The deal priced Oct. 1.
The company will now sell 10 million units at C$0.10 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.15 for 18 months.
Proceeds will be used for working capital.
Eloro is a mineral exploration company based in Toronto.
| Issuer: | Eloro Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 1
|
| Upsized: | Dec. 3
|
| Stock symbol: | TSX Venture: ELO
|
| Stock price: | C$0.09 at close Oct. 1
|
| Market capitalization: | C$7.65 million
|
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