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Excellon Completes $11.5 Million Bought Deal Financing
Excellon Completes $11.5 Million Bought Deal Financing Canada NewsWire ­&#x...
About this update from Excellon Resources Inc.
[{"type":"text","content":"\n\n\n\nExcellon Completes $11.5 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\n\nCanada NewsWire\n­­­­­­­­­­­TORONTO, Aug. 27, 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 \n­­­­­­­­­­­TORONTO, Aug. 27, 2019 /CNW/ - Excellon Resources Inc. (TSX:EXN) (\"Excellon\" or the \"Company\") is pleased to announce that it has closed its previously announced bought deal public offering of 10,925,000 units (collectively, the \"Units\"), including  1,425,000 Units issued upon full exercise of the over-allotment option, at a price of $1.06 per Unit for aggregate gross proceeds of approximately $11.5 million (the \"Offering\"). The Offering was underwritten by Cormark Securities Inc. as sole bookrunner and lead underwriter, on its own behalf and on behalf of PI Financial Corp., Sprott Capital Partners LP, Laurentian Bank Securities Inc. and Maison Placements Canada Inc. (collectively, the \"Underwriters\").\nAs previously announced, each Unit consists 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 at any time on or before August 27, 2021. The Warrants are listed on the Toronto Stock Exchange under the symbol EXN.WT.\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, Mexico, for corporate development and for general corporate purposes. \nIn connection with the Offering, insiders, including Eric Sprott, purchased an aggregate of 1,015,000 Units (for a total consideration of $1 million). In...