Eloro Resources Grants Stock Options
Eloro Resources Grants Stock Options
Toronto, Canada, February 1, 2021 – Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF
FSE: P2QM) (“Eloro”, or the “Company”) announces the grant of options to directors, officers,
employees and consultants to purchase an aggregate of 1,030,000 common shares of Eloro,
exercisable at $4.45 per share at any time on or before February 1, 2026. The grant is subject to
TSX Venture Exchange (“TSX-V”) acceptance and is made in accordance with and subject to the
terms of Eloro’s stock option plan. In accordance with securities regulatory requirements, any
shares issued pursuant to the exercise of such options will be subject to a resale restriction for a
period of four months from the date of the grant.
Additional Disclosure
In accordance with requirements of the TSX-V, the Company notes that, further to its January 5,
2021 news release announcing the closing of the Company’s bought deal financing, the 7% cash
commission and 7% compensation options issued to the underwriters, as reported in that news
release, represented total cash commissions of CDN$442,751.61 and a total of 285,646
compensation options.
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 classified as a polymetallic epithermal-porphyry
complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro
commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon
International Limited and is available on Eloro’s 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
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 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 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 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 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, Ontario CANADA M5C 2T6 Tel.: (416) 868-9168 Fax: (416) 361-1333
TSX.V Symbol: ELO www.elororesources.com