Eloro Resources Ltd.’s $9.8 Million Bought Deal Offering

Cassels acted for Cormark Securities Inc. on the matter.

Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) closed a bought deal financing of 3,007,710 units at a price of $3.25 per unit for gross proceeds of approximately $9.8 million, which includes the full exercise of the underwriter’s over-allotment option.

Each unit consists of one common share in the capital of Eloro and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of $4.75 for a period of 24 months following the closing of the financing.

The offering was led by Cormark Securities Inc.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec.

The team was led by Chad Accursi (Picture) and included James Lyle, Reza Sarsangi, Stacey Weltman and Camély Gendron. 

Involved fees earner: Chad Accursi – Cassels Brock & Blackwell LLP; James Lyle – Cassels Brock & Blackwell LLP; Reza Sarsangi – Cassels Brock & Blackwell LLP; Stacey Weltman – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: Cormark Securities Inc.;

Sonia Carcano

Author: Sonia Carcano