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Excellon Announces Closing of Brokered Private Placement of Common Shares for Gross Proceeds of C$12 Million, Including Full Exercise of the Agents' Option
Toronto, Ontario--(Newsfile Corp. - September 9, 2025) - Excellon Resources Inc. (TSXV: EXN) (OT...
About this update from Excellon Resources Inc.
[{"type":"text","content":"Excellon Announces Closing of Brokered Private Placement of Common Shares for Gross Proceeds of C$12 Million, Including Full Exercise of the Agents' OptionToronto, Ontario--(Newsfile Corp. - September 9, 2025) - Excellon Resources Inc. (TSXV: EXN) (OTC Pink: EXNRF) (FSE: E4X2) (\"Excellon\" or the \"Company\") is pleased to announce the closing of its previously announced \"best efforts\" private placement (the \"Offering\") for aggregate gross proceeds to the Company of C$12,000,000, which includes the full exercise of the agents' option. Pursuant to the Offering, the Company sold an aggregate of 60,000,000 common shares in the capital of the Company (the \"Offered Shares\") at a price of C$0.20 per Offered Share. Red Cloud Securities Inc. and Velocity Capital Partners, as co-lead agents and joint bookrunners, together with Haywood Securities Inc., Beacon Securities Limited and Integrity Capital Group Inc. (collectively, the \"Agents\") acted as agents in connection with the Offering pursuant to the terms of an agency agreement dated September 9, 2025. The Company intends to use the net proceeds of the Offering for advancing the development of the Mallay Mine, working capital and general corporate purposes, as more fully described in the Amended 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 \"listed issuer financing exemption\" (the \"LIFE 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. Pursuant to the LIFE Exemption, subject to the satisfaction of certain conditions under applicable Canadian securities legislation, the Offered Shares are immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Offered Shares were also offered in the United States or to, or for the account or benefit of, U.S. persons by way of private placement pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and in jurisdictions outside of Canada and the United States on a private placement or equivalent ba...