Elcora Advanced Materials Corp. has closed the second tranche of its private placement, issuing 10,591,666 units at $0.12 per unit for gross proceeds of approximately $1,271,000. This adds to the first tranche, totaling 18,749,999 units issued and $2,250,000 raised. The company may issue up to 25,000,000 units at $0.12 each to raise total gross proceeds of up to $3,000,000. Insiders, including a Director, participated in the offering, acquiring units for total gross proceeds of approximately $240,000. The net proceeds will be used for general working capital purposes. All securities issued will be subject to a statutory hold period.

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