Excellon Announces $10 Million Bought Deal Financing
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EXCELLON ANNOUNCES $10 MILLION BOUGHT DEAL FINANCING
Toronto, Ontario – October 19, 2017 – Excellon Resources Inc. (TSX:EXN; TSX: EXN.WT) ("Excellon" or
the “Company") is pleased to announce that it has entered into an agreement with Cantor Fitzgerald
Canada Corporation ("Cantor") as sole bookrunner and together with PI Financial Corp. as co-lead
underwriter, on its own behalf and on behalf of a syndicate of underwriters (together with Cantor, the
"Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis,
5,000,000 units of the Company (the "Units") at a price of $2.00 per Unit for gross proceeds to the
Company of approximately $10 million (the "Offering"). Each Unit will consist of one common share in
the capital of the Company (each a “Common Share”) and one-half of one common share purchase
warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to acquire an
additional Common Share at a price of $2.80 at any time on or before December 31, 2018.
The Company has agreed to grant the Underwriters an over-allotment option (the "Over-Allotment
Option") to increase the size of the Offering by up to an additional 15%, such option being exercisable in
whole or in part at any time prior to the date that is 30 days after the closing of the Offering, to cover
over-allotments, if any, and for market stabilization purposes. In the event that the Over-Allotment
Option is exercised in full, the aggregate gross proceeds of the Offering to Excellon will be approximately
$11.5 million.
The Company intends to use the net proceeds of the Offering to fund exploration at the Company’s
Platosa Project in Durango, Mexico and Miguel Auza Project in Zacatecas, Mexico and for general
corporate purposes.
The Units will be offered by way of short form prospectus in each of the provinces of Canada, except
Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units will
not be offered or sold in the United States except under Rule 144A or Regulation D or in such other
manner as to not require registration under the United States Securities Act of 1933, as amended.
The Offering is scheduled to close on or before November 9, 2017 and is subject to certain conditions
including, but not limited to, receipt of all regulatory approvals, including the approval of the Toronto
Stock Exchange and the applicable securities regulatory authorities.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities
Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the
account or benefit of, United States persons absent registration or any applicable exemption from the
registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press
release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United
States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
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About Excellon
Excellon’s 100%-owned Platosa Mine in Durango has been Mexico’s highest-grade silver mine since
production commenced in 2005. The Company is focused on optimizing the Platosa Mine’s cost and
production profile, discovering further high-grade silver and CRD mineralization on the Platosa Project
and capitalizing on the opportunity in current market conditions to acquire undervalued projects in Latin
America.
For Further Information, Please Contact:
Excellon Resources Inc.
Brendan Cahill, President & Chief Executive Officer or
Rupy Dhadwar, Chief Financial Officer
(416) 364-1130
www.excellonresources.com
Forward-Looking Statements
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press
Release, which has been prepared by management. This press release contains forward-looking statements and forward-looking information
(collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without
limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the
receipt of regulatory approvals, the exercise of the Over-Allotment Option and future results of operations, performance and achievements of
the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend,
estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materi ally
from those in forward-looking statements as a result of various factors, including the Company's inability to obtain any necessary permits,
consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, t o continue its projected
growth, to raise the necessary capital or to be fully able to implement its business strategies. This press release is not, and is not to be construed
in any way as, an offer or recommendation to buy or sell securities in Canada or in the United States.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the
forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The Company does not
undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance
with applicable securities laws.