Excellon arranges $8-million private placement

Executive Summary

• Excellon Resources Inc. announced an upsized best‑efforts private placement of up to 40 million common shares at C$0.20 per share, targeting gross proceeds of up to C$11 million.
• The placement includes a “greenshoe” option for agents to sell an additional 5 million shares (up to C$1 million) within 48 hours prior to closing.
• Net proceeds are earmarked to advance development of the Mallay mine, fund working capital and support general corporate purposes.

Key Details

• Placement Size: Up to 40 million common shares at C$0.20 per share (gross proceeds up to C$8 million).
• Option for Additional Shares: Agents may sell up to an extra 5 million shares, raising up to C$1 million additional gross proceeds.
• Lead Agents: Red Cloud Securities Inc. and Velocity Trade Capital Ltd., acting as co‑lead agents and joint bookrunners for a syndicate of agents.
• Use of Proceeds: Advancement of the Mallay silver mine development, working capital, and general corporate purposes (as detailed in the offering document).
• Regulatory Framework: Offering relies on National Instrument 45‑106 – Prospectus Exemptions; shares to be offered to Canadian residents (excluding Quebec) under the listed issuer financing exemption.
• Closing Timeline: Anticipated closing on or about September 9, 2025, subject to regulatory approvals and TSX Venture Exchange acceptance.
• Share Trading: Expected to be freely tradeable immediately after sale to eligible Canadian purchasers, pending compliance with applicable securities legislation.

Notable Quotes

(No direct quotes were provided in the release.)