Keep custom read more link on the same line as excerpt text

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Simple function that changes the output of the “[…..]” text and replace with the permalink. 

function bm_excerpt_more_link( $more ) {
 $post = get_post();
return '<a href="'.get_the_permalink($post->ID).'">Read More...</a>';
}
add_filter( 'excerpt_more', 'bm_excerpt_more_link', 21 );

Or you can remove “p” tag by adding this below line before your post loop. 

  remove_filter('the_excerpt', 'wpautop');