| Home : January 2015 : January 27, 2015 News : Eloro Resources Closes Shares-for-Debt Transactions |
Eloro Resources Closes Shares-for-Debt Transactions |
January 27, 2015
TORONTO, ONTARIO--(Marketwired - Jan. 26, 2015) - Eloro Resources Ltd. (TSX VENTURE:ELO) (FRANKFURT:P2Q) ("Eloro" or the "Corporation") is pleased to report that it has completed the previously announced shares-for-debt transactions (the "Transactions") whereby Eloro issued 5,810,000 common shares ("Common Shares") (of which 950,000 were issued to insiders of the Corporation) at a price of $0.05 per share in connection with the repayment of unsecured loans made to Eloro. The Transactions were undertaken by Eloro in order to conserve capital and improve the Corporation's balance sheet while global financial markets remain turbulent and financing junior exploration companies remains difficult.
http://www.marketwired.com/mw/release.do?id=1986114&sourceType=3
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