Excellon Resources Inc announced a non-brokered private placement of 7,500,000 units at a issue price of CAD 0.18 per unit for gross proceeds of CAD 1,350,000 on April 4, 2024. Each unit consists of one common share in the capital of the Company and one common share purchase warrant of the Company. Each Warrant will entitle the holder thereof to acquire one Common Share at a price of CAD 0.27 per Common Share for a period of 24 months from the closing date of the Offering.

The transaction will be issued in multiple tranches and closing of first tranche is expected to close on or about April 19, 2024. The transaction is subject to the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange.