Toronto, Ontario — March 2, 2026 — Leads & Copy —
Excellon Resources Inc. has increased the size of its previously announced private placement to C$12,999,600, driven by strong investor demand.
The offering, initially set at C$10,000,020, will now involve ATB Capital Markets Corp. and Velocity Capital Partners, acting as co-lead underwriters and joint bookrunners, to purchase 21,666,000 common shares at C$0.60 per share.
Excellon has also increased the size of the Underwriters’ Option, granting them the option to purchase up to an additional 6,670,000 shares at the offering price, potentially raising an additional C$4,002,000.
The company is also launching a concurrent brokered private placement with 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, to sell 8,333,500 common shares at C$0.60 per share, raising C$5,000,100.
The combined gross proceeds from the offering (assuming full exercise of the Underwriters’ Option) and the concurrent private placement are expected to reach approximately C$22 million.
Excellon intends to allocate the net proceeds to exploration and development of its projects in Peru, as well as for working capital and general corporate purposes, as detailed in the Amended and Restated Offering Document.
Up to 21,666,000 shares will be offered for sale to purchasers resident in each of the provinces of Canada, other than Québec, pursuant to the “listed issuer financing exemption” under Part 5A of NI 45-106. These shares will not be subject to a statutory hold period in Canada. The shares may also be offered in the United States and certain other jurisdictions outside of Canada and the United States on a private placement basis, in accordance with all applicable laws.
The Amended and Restated Offering Document can be accessed on SEDAR+ and the company’s website. Prospective investors are advised to review the document before making any investment decisions.
The offering and the concurrent private placement are expected to close around March 12, 2026, subject to customary conditions and regulatory approvals, including the acceptance of the TSX Venture Exchange.
Excellon Resources Inc. aims to capitalize on opportunities through the acquisition and advancement of precious and base metal assets. The company is focused on potentially restarting the Mallay Silver Mine in Peru and holds a portfolio of exploration-stage projects, including the Tres Cerros Gold/Silver Exploration Property in Peru, Kilgore in Idaho, and Silver City in Saxony, Germany.
Source: Excellon Resources Inc.
