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­­Excellon Announces $10 Million Bought Deal Financing
­­Excellon Announces $10 Million Bought Deal Financing ­­Excel...
About this update from Excellon Resources Inc.
[{"type":"text","content":"\n\n\n\n­­Excellon Announces $10 Million Bought Deal Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n­­Excellon Announces $10 Million Bought Deal Financing\nCanada NewsWire\nTORONTO, Aug. 6, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEM­­INATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n TORONTO, Aug. 6, 2019 /CNW/ - Excellon Resources Inc. (TSX:EXN) (\"Excellon\" or the \"Company\") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. (\"Cormark\") as sole bookrunner and lead underwriter, on its own behalf and on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 9,500,000 units of the Company (the \"Units\") at a price of $1.06 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 $1.40 for a period of 24 months following the closing of the Offering.\nThe 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.\nThe Company intends to use the net proceeds of the Offering to fund exploration and capital expenditures at the Company's Platosa Project in Durango, Mexico and Evolución Property in Zacatecas, Mexic...