Business
Excellon Announces Closing of Bought Deal Private Placement and Concurrent Private Placement for Gross Proceeds of Approximately C$21.8 Million
Toronto, Ontario--(Newsfile Corp. - March 12, 2026) - Excellon Resources Inc. (TSXV: EXN) (OTC Pi...
About this update from Excellon Resources Inc.
[{"type":"text","content":"Excellon Announces Closing of Bought Deal Private Placement and Concurrent Private Placement for Gross Proceeds of Approximately C$21.8 MillionToronto, Ontario--(Newsfile Corp. - March 12, 2026) - Excellon Resources Inc. (TSXV: EXN) (OTC Pink: EXNRF) (FSE: E4X2) (\"Excellon\" or the \"Company\") is pleased to announce the closing of its previously announced \"bought deal\" private placement (the \"Bought Deal Private Placement\"), pursuant to which the Company sold an aggregate of 28,036,000 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$16,821,600, which includes the partial exercise of the underwriters' option.The Company also closed its previously announced concurrent brokered private placement (the \"Concurrent Private Placement\" and together with the Bought Deal Private Placement, the \"Offering\"), pursuant to which the Company sold an additional 8,333,500 Offered Shares at the Offering Price to 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, for additional aggregate gross proceeds to the Company of C$5,000,100.ATB Cormark Capital Markets and Velocity Capital Partners, as co-lead underwriters and joint bookrunners, together with Haywood Securities Inc., Independent Trading Group (ITG), Inc. and Red Cloud Securities Inc. (collectively, the \"Underwriters\") acted as underwriters in connection with the Offering pursuant to the terms of an underwriting agreement dated March 12, 2026. As consideration for their services, the Company paid the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering, which was reduced to 3.0% of the gross proceeds solely in respect of Offered Shares sold to certain purchasers on the president's list.The aggregate gross proceeds from the Offering were C$21,821,700. 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 Amended and Restated Offering Document (as defined herein). In accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Offered Shares were issued to purchasers resident in certain provinces of Canada pursuant to the...