Elcora Secures Funding Through Convertible Note

Elcora Advanced Materials (TSE:ERA) has released an update.

Elcora Advanced Materials Corp. has successfully completed a private placement, issuing an 8% unsecured convertible promissory note for CDN$102,750, which can be converted into up to 2,055,000 common shares at CDN$0.05 each. The note matures on September 27, 2024, with the proceeds aimed at bolstering the company’s working capital. The securities involved are subject to a statutory hold period and regulatory approvals.

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