Eloro Resources Completes Financing
Eloro Resources Completes Financing
Toronto, Canada, January 30, 2019 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the
“Corporation”) is pleased to announce it has completed a previously announced non-brokered private
placement (the “Private Placement”), of 750,000 units of Eloro at a price of $0.40 per unit (“Units”) for gross
proceeds of $300,000.
Each Unit consists of one Common Share and one half of one Common Share purchase warrant (a “Warrant”).
Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.60 per share for a
term of 18 months, expiring July 31, 2021.
In connection with the Private Placement, one arm’s length finder received as compensation a 7% cash
commission aggregating $2,100.
The proceeds of the Private Placement will be used for working capital purposes. A director and a
director/officer of the Corporation subscribed for 165, 000 units for gross proceeds of $66,000. The Private
Placement is subject to final approval by the TSX V enture Exchange. All securities issued pursuant to the
Private Placement are subject to the applicable statutory four month hold period.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company wi th a portfolio of gold and base-metal properties in
Peru and Quebec. Eloro owns a 90% interest in the 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 Tahoe's La Arena Gold Mine.
La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89
square kilometres. The property has good infrastructure with access to road, water and electricity and is located
at an altitude that ranges from 3,100 m to 4,200 m above sea level.
For further information please contact Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416)
868-9168.
Information in this news release may contain forward-look ing information. Statements c ontaining forward-looking
information express, as at the date of this news release, the Corporation's pl ans, 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 Corporation. 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 TSXV nor its Regulation Services Provid er (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, Ontario CANADA M5C 2T6 Tel.: (416) 868-9168 Fax: (416) 361-1333
TSX.V Symbol: ELO www.elororesources.com