Excellon Announces Bought Deal Private Placement of Common Shares for Gross Proceeds of C$10 Million

Executive Summary

• Excellon Resources Inc. announced a bought‑deal private placement of 16,666,700 common shares at C$0.60 per share for gross proceeds of C$10,000,020.
• Underwriters AT B Capital Markets Corp. and Velocity Capital Partners received an option to purchase up to an additional 4,999,900 shares (up to C$2,999,940) prior to closing.
• Net proceeds will be used for exploration and development of Excellon’s projects in Peru, working capital, and general corporate purposes.

Key Details

• Offering Size: 16,666,700 common shares (“Offered Shares”).
• Price per Share: C$0.60.
• Gross Proceeds: C$10,000,020.
• Underwriter Option: Up to an additional 4,999,900 shares at the same price, potentially raising up to C$2,999,940.
• Lead Underwriters / Joint Bookrunners: AT B Capital Markets Corp. and Velocity Capital Partners (acting as co‑lead underwriters).
• Use of Proceeds: Exploration and development of Peru projects, working capital, and general corporate purposes.
• Regulatory Framework: Offered under NI 45‑106 “listed issuer financing exemption” for Canadian provinces (excluding Québec); also available to U.S. persons via applicable exemptions and to investors outside Canada under OSC Rule 72‑503. No statutory hold period expected for Canadian or foreign purchasers.
• Closing Date: Expected on or about March 12, 2026 (or earlier/later by mutual agreement).
• Conditions to Closing: Customary conditions including receipt of regulatory approvals and TSX Venture Exchange acceptance.

Notable Quotes

(No executive quotes were included in the release.)