Excellon Announces Bought Deal Private Placement of Common Shares for Gross Proceeds of C$10 Million
Excellon Announces Bought Deal Private
Placement of Common Shares for Gross
Proceeds of C$10 Million
Toronto, Ontario--(Newsfile Corp. - March 2, 2026) -
Excellon Resources Inc. (TSXV: EXN) (OTC
Pink: EXNRF) (FSE: E4X2)
("
Excellon
" or the "
Company
") is pleased to announce that it has entered
into an agreement with ATB Capital Markets Corp. ("
ATB Capital
") pursuant to which ATB Capital and
Velocity Capital Partners will act as co-lead underwriters and joint bookrunners, on behalf of a syndicate
of underwriters (collectively, the "
Underwriters
"), in connection with a "bought deal" private placement
of 16,666,700 common shares in the capital of the Company (the "
Offered Shares
") at a price of
C$0.60 per Offered Share (the "
Offering Price
") for aggregate gross proceeds to the Company of
C$10,000,020 (the "
Offering
").
The Company has granted the Underwriters an option, exercisable in whole or in part at any time up to
48 hours prior to the Closing Date (as defined herein), to purchase (or arrange for substituted
purchasers to purchase) up to an additional 4,999,900 Offered Shares at the Offering Price to raise
additional gross proceeds of up to C$2,999,940.
The Company intends to use the net proceeds from the Offering for exploration and development of the
Company's projects in Peru, working capital and general corporate purposes, as is more fully described
in the Offering Document (as defined herein).
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 -
Prospectus Exemptions
("
NI 45-106
"), the Offered Shares will be offered for sale to
purchasers resident in each of the provinces of Canada, other than Québec, pursuant to the "listed
issuer financing exemption" under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-
935 -
Exemptions from Certain Conditions of the Listed Issuer Financing Exemption
(the "
Listed
Issuer Financing Exemption
"). The Offered Shares issued to purchasers resident in Canada pursuant
to the Listed Issuer Financing Exemption will not be subject to a statutory hold period in Canada. The
Offered Shares may also be offered in the United States or to, or for the account or benefit of, U.S.
persons, by way of private placement pursuant to available exemptions from the registration
requirements of the
United States Securities Act of 1933
, as amended (the "
U.S. Securities Act
"), and
in certain other jurisdictions outside of Canada and the United States on a private placement or
equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus,
registration statement or other similar document is required to be filed in such jurisdiction and that no
ongoing reporting requirement or requisite regulatory or governmental approval arises in such
jurisdiction. The Offered Shares will be offered for sale to purchasers outside of Canada pursuant to an
exemption from the prospectus requirements in Canada available under OSC Rule 72-503 -
Distributions Outside Canada
and, accordingly, the Offered Shares issued to purchasers outside of
Canada are not expected to be subject to a statutory hold period in Canada.
There is an offering document (the "
Offering Document
") related to the Offering that can be accessed
under the Company's profile on SEDAR+ at
www.sedarplus.ca
and on the Company's website at:
www.excellonresources.com
. Prospective investors should read the Offering Document before making
an investment decision.
The Offering is expected to close on or about March 12, 2026, or on such other date as may be agreed
to by the Company and ATB Capital (the "
Closing Date
"). Completion of the Offering is subject to
customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals,
including the acceptance of the TSX Venture Exchange.
The securities offered have not been, and will not be, registered under the U.S. Securities Act, or any
state securities laws, and may not be offered or sold in the United States or to, or for the account or
benefit of, persons in the "United States" or "U.S. persons" (as such terms are defined in Regulation S
under the U.S. Securities Act), absent registration or an exemption from such registration requirements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United
States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About Excellon Resources Inc.
Excellon's vision is to realize opportunities through the acquisition and advancement of quality precious
and base metal assets, leveraging an experienced management team for the benefit of its employees,
communities and shareholders. The Company is focused on the potential restart of the Mallay Silver
Mine in Peru. Excellon also holds a portfolio of exploration-stage projects, including the Tres Cerros
Gold/Silver Exploration Property in Peru; Kilgore, an advanced gold project in Idaho; and Silver City, a
high-grade epithermal silver district in Saxony, Germany, providing additional growth upside. Additional
details on Excellon's properties can be found at
www.excellonresources.com
.
For Further Information, Please Contact:
Excellon Resources Inc.
Shawn Howarth, President & Chief Executive Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
All statements, other than statements of historical fact, contained, referenced or incorporated by
reference in this news release constitute "forward-looking statements" and "forward looking
information" (collectively, "forward-looking statements") within the meaning of applicable Canadian
and United States securities legislation. Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as: "actively", "advance", "anticipated", "assess",
"believe", "cause", "commence", "completion", "conditions", "consideration", "continues",
"development", "due course", "expectation", "exploration", "extend", "extension", "flexibility",
"focused", "forward", "further", "future", "if", "implement", "liquidity", "looking", "maturity", "may",
"negotiations", "occur", "opportunities", "options", "outcome", "outstanding", "potential", "providing",
"reach", "restructuring", "risk", "subject to", "to be", "update", "vision", "waive", "when", "will", and
"would", or variations of such words, and similar such words, expressions or statements that certain
actions, events or results can, could, may, should, to, will, would (or not) be achieved, occur, provide,
result, complete or support in the future or which, by their nature, refer to
future events. In some cases,
forward-looking information may be stated in the present tense, such as in respect of current matters that
may be continuing, or that may have a future impact or effect.
Forward-looking statements include statements regarding the structure and terms of the Offering; the
use of proceeds of the Offering; the timing and ability of the Company to complete the Offering; the
timing and ability of the Company to receive necessary approvals; and the Company's objectives,
goals and future plans and strategies. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove to be correct, and any forward-
looking statements by the Company are not guarantees of future actions, results or performance.
Forward-looking statements are based on assumptions, estimates, expectations and opinions, which
are considered reasonable and represent best judgment based on available facts, as of the date such
statements are made. If such assumptions, estimates, expectations and opinions prove to be
incorrect, actual and future results may be materially different than expressed or implied in the
forward-looking statements. Forward-looking statements are inherently subject to known and unknown
risks, uncertainties, contingencies and other factors which may cause the actual results or
performance of the Company to be materially different from any future results or performance
expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and
other factors include, among others, the inability of the Company to complete the Offering on the
terms proposed or at all, the inability of the Company to obtain necessary approvals, the "Risk
Factors" in the Company's annual information form dated March 31, 2025 (the "
2025 AIF
"), and the
risks, uncertainties, contingencies and other factors identified in the Company's Management's
Discussion and Analysis, and accompanying financial statements, for the year ended December 31,
2024, and the Company's other applicable public disclosure (collectively, "
Company Disclosure
").
The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers
should consult the more complete discussion of the Company's business, financial condition and
prospects that is provided in the 2025 AIF and the other Company Disclosure. The forward-looking
statements referenced or contained in this news release are expressly qualified by these Cautionary
Statements as well as the Cautionary Statements in the other Company Disclosure. Forward-looking
statements contained herein are made as of the date of this news release (or as otherwise expressly
specified) and the Company disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or results or otherwise, except as required by
applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Not for distribution to United States news wire services or for dissemination in the United States
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https://www.newsfilecorp.com/release/285915