Elcora Advanced Materials Announces Private Placement
31.01.2017 | Accesswire
![Elcora Advanced Materials Announces Private Placement](https://www.goldseiten.de/media/goldseiten-news.jpg)
The Company will pay finders' fees in connection with the Private Placement.
All securities issued pursuant to the Private Placement will be subject to a statutory four-month hold period. The proceeds from the Private Placement will be used to increase the output of the Sri Lanka mining site in order to meet the demand and continued Lithium-Ion battery testing and development. Completion of the Private Placement is subject to the approval of the TSX Venture Exchange and is expected to close on or about February 2, 2017.
Further to the news release issued October 27, 2016 where Elcora announced the extension of the expiry date of 7,142,857 share purchase warrants issued pursuant to a non-brokered private placement financing in November 2015 (the "2015 Warrants"), the Company wishes to announce that the 2015 Warrants were not extended.
About Elcora Advanced Materials
Elcora was founded in 2011 and has been structured to become a vertically integrated graphite & graphene company that mines, processes, refines graphite, and produces both the graphene and end user graphene applications. As part of the vertical integration strategy, Elcora has secured high-grade graphite and graphene precursor graphite from its interest in the operation of the Ragedara mine in Sri Lanka which is already in production. Elcora has developed a unique low cost effective processes to make high quality graphite and graphene that are commercially scalable. This combination means that Elcora has the tools and resources for graphite and graphene vertical integration.
For further information please visit the company's website at http://www.elcoracorp.com
For further information please contact: Troy Grant, Director, President and CEO, Elcora Resources Corp., T: 902 802-8847 F: 902 446-2001.
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora's expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.