Elcora Announces Private Placement

elcora logo, V.ERA

Elcora Advanced Materials Corp., (TSX VENTURE:V.ERA) is pleased to announce a non-brokered private placement offering (the “Private Placement”) of up to 20,370,370 units (“Units”) at a price of $0.27 per Unit to raise aggregate gross proceeds of up to $5,500,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Elcora at an exercise price of $0.34 for two years following the closing of the Private Placement. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of $0.60 cents per share for a period of 20 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 45 days from the date of providing such notice. read more

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