Aloro Mining Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on March 20, 2023. Each unit will consist of one common share and one share purchase warrant.

The company may pay finder's fees in the transaction. Each warrant entitles the holder to purchase an additional common share of the company at CAD 0.15 per share for a period of two year from date of closing. The securities issued are subject to a hold period of four months plus one day from date of closing.

The transaction is subject to regulatory approvals including approval TSX Venture Exchange.