Eloro Resources Announces C$5,002,200 Bought Deal Financing
20 Adelaide Street East, Suite 200, Toronto, Ontario CANADA M5C 2T6 Tel.: (416) 868-9168
TSX Symbol: ELO www.elororesources.com
Eloro Resources Announces C$5,002,200 Bought Deal Financing
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DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES.
TORONTO – July 27, 2023 – Eloro Resources Ltd. (“Eloro” or the “Company”) (TSX: ELO; OTCQX: ELRRF; FSE:
P2QM) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. to act as
co-lead underwriter and joint bookrunner, together with Cantor Fitzgerald Canada Corporation as co-lead
underwriter and joint bookrunner and a syndicate of underwriters (collectively, the “Underwriters”), pursuant
to which the Underwriters have agreed to purchase, on a bought deal basis, 1,588,000 units of the Company
(the “Units”) at a price of C$3.15 per Unit (the “I ssue Price”) for gross proc eeds to the Company of
C$5,002,200 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a
“Common Share”) and one-half of one common share purchase warrant (each whole purchase warrant, a
“Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share (a “Warrant Share”)
at a price of C$4.25 for a period of 24 months from the Closing Date (as hereinafter defined).
Additionally, the Company has agreed to grant to the Underwriters an op tion, exercisable at any time, in
whole or in part, until the date that is 30 days followi ng the closing of the Offeri ng, to purchase up to an
additional 15% of the number of Units sold under the Offering at a price per Unit equal to the Issue Price,
on the same terms and conditions as the Offering.
The net proceeds from the Offering will be used for exploration and development at the Companyʼs projects
in Bolivia and Peru, and for general working capital and corporate purposes.
The Units will be offered by way of a prospectus supplement to the Companyʼs base shelf prospectus, dated
May 11, 2022, to be filed with the securities commissions and other similar regulatory authorities in each of
the provinces of Canada, except Québec. The Units may also be sold to U.S. buyers on a private placement
basis pursuant to available exemptio ns from the registration requirements of the United States Securities
Act of 1933, as amended (the “U.S. Securities Actʼ) and applicable state securities laws, and to residents in
other jurisdictions outside of Canada, provided that no prospectus filing or comparable obligation arises.
The Offering is scheduled to close on or about August 3, 2023 and is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the
Toronto Stock Exchange and the securities regulatory authorities.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act
of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or
sold in the United States or to, or for the account or benefit of, United States persons absent registration or
any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S.
state securities laws. This press release shall not constitu te an offer to sell or the solicitation of an offer to
buy securities in the United States, nor there be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties
in Bolivia, Peru and Quebec. Eloro has an option to ac quire a 100% interest in the highly prospective Iska
Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral
deposit type in the Potosi Department, in southern Bolivia. A recent NI 43-101 Technical Report on Iska Iska,
which was completed by Micon International Limited, is available on Eloroʼs website and under its filings on
SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria
Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrickʼs Lagunas
Norte Gold Mine and Pan American Silverʼs La Arena Gold Mine.
For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa,
Vice-President at (416) 868-9168.
Information in this news release may contain forward-looking information. Statements containing forward-
looking information express, as at the date of this news release, the Companyʼs plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or results and are believed to be reasonable based
on information currently available to the Company. There can be no assurance that forward-looking
statements will prove to be accurate. Actual results and future events could differ materially from those
anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this release.