Eloro Resources Upsizes Private Placement to C$15 Million

Eloro Resources Ltd., a mining exploration company, has announced an increase in its "bought deal" private placement, upping the gross proceeds from C$10 million to C$15 million. This decision follows strong investor interest. Red Cloud Securities Inc. and Cantor Fitzgerald Canada Corporation are leading the underwriting efforts.

The company plans to sell 5,769,300 common shares at C$2.60 per share, with an option for underwriters to purchase an additional 769,300 shares. The funds will be allocated towards the development of Eloro's Iska Iska project in Bolivia, alongside other corporate needs.

The offering is compliant with Canadian and U.S. securities laws, with a closing date set for March 6, 2026, pending regulatory approvals. The securities involved are yet to be registered under U.S. laws and will be restricted from sale to U.S. residents without applicable exemptions.