logo-loader
viewExcellon Resources Inc.

Excellon announces closing of C$6.6mln financing

The financing includes C$5.6mln four-year debentures.

Silver-bar.jpg
Excellon shares have lost 62% this year.

Excellon Resources (TSE:EXN), a Canadian silver producer operating in Mexico, completed its previously announced C$6.6mln financing.

The financing comprised C$5,610,000 principal amount of secured convertible debentures of the company and the sale of a net smelter return royalty on the Platosa Project for C$990,000, the Toronto, Ontario-based company said in a statement on Monday.

The debentures have a term of four years and are convertible into common shares of the company prior to maturity at a conversion price of $0.50 per common share.

The debentures shall bear interest at an annual rate of 3.75%, payable in cash semi-annually.

Interest on the debentures may alternatively be paid in common shares of the company at the company's option based on the 10-day volume-weighted average price of the common shares prior to the payment date and an effective rate of interest of 5% for the applicable period.

Shares were flat at C$0.25 at 12:28 p.m. in Toronto. The stock is down 62% this year.

Quick facts: Excellon Resources Inc.

Price: 0.71 CAD

TSX:EXN
Market: TSX
Market Cap: $109.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Covid Technologies looking for large growth after being...

Micron Waste Technologies (CSE: MWM- OTC: MICWF) soon to be subsidiary COVID Technologies President Harvey Sidhu joined Steve Darling from Proactive Vancouver to discuss his company being acquired by Micron. Sidhu discusses his company which makes PPE or personal protective equipment....

15 hours, 3 minutes ago

2 min read