Eloro Resources Announces Financing
Eloro Resources Announces Financing
Toronto, Canada, May 1, 2020 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“ Eloro ” or the
“Corporation ”) is pleased to announce that it is proceeding wit h a non-brokered private placement (the
“Private Placement”) of up to 2,000,000 units of Eloro at a price of $0.25 per unit (“Units”) for proceeds of
up to $500,000.
Each Unit will consist of one common share (“Common Share”) and one half of one Common Share
purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one Common Share
at a price of $0.50 per share for a term of 18 months following the closing of the Private Placement.
The proceeds of the Private Placement will be used for working capital purposes and to fund exploratio n
at its properties. The Private Placement is subject to approval by the TSX Venture Exchange. Directors
and/or officers of the Corporation will be particip ating in the Private Placement. All securities issu ed
pursuant to the Private Placement will be subject to the applicable statutory four-month hold period.
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 acquire a 99% interest in the highly
prospective Iska Iska Property, which can be classi fied as a polymetallic epithermal-porphyry
complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro
has completed a NI 43-101 Technical Report on Iska Iska, which is a road-accessible, royalty-
free property. Eloro also owns an 82% interest in t he La Victoria Gold/Silver Project, located in
the North-Central Mineral Belt of Peru some 50 km south of Barrick's Lagunas Norte Gold Mine
and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions
and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good
infrastructure with access to road, water and electricity and is located at an altitude that ranges
from 3,150 m to 4,400 m above sea level.
For further information please contact either Thoma s G. Larsen, President and CEO or
Jorge Estepa, Vice-President at (416) 868-9168.
Information in this news release may contain forwar d-looking information. Statements containing forward
looking information express, as at the date of this news release, the Company’s 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 result s and future events could differ materially from th ose
anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
20 Adelaide Street East, Suite 200, Toronto, Ontari o CANADA M5C 2T6 Tel.: (416) 868-9168 Fax: (416) 3 61-1333
TSX.V Symbol: ELO www.elororesources.com