Your vote is important regardless of the number of shares you own. Excellon and Otis encourage shareholders to read the meeting materials in detail. An electronic copy of the Circular is available on Excellon's website at www.excellonresources.com and on Otis' website at www.otisgold.com. The Circular is also available on SEDAR under the issuer profiles of both companies at www.sedar.com. Shareholders are strongly encouraged to vote online or over the phone following the instructions set out on the form of proxy or voting instruction form which will be mailed along with the Circular.
Excellon Meeting
The meeting of Excellon Shareholders will be held at
To proactively deal with the unprecedented public health impact of the coronavirus pandemic, also known as COVID-19, and to mitigate risks to the health and safety of communities, shareholders, employees and other stakeholders, Excellon is inviting its shareholders to participate in the meeting by dialing in to its conference line at: 1-800-319-4610 (North American Toll Free) or 1-416-915-3239 (
Due to the current restrictions on public gatherings only Registered Shareholders and appointees are able to attend and vote at the meeting. Shareholders are strongly encouraged to participate in the meeting via the conference line.
Otis Meeting
The meeting of Otis Shareholders will be held at the offices of
Arrangement
On
Benefits of the Arrangement
Excellon and all of its subsidiaries immediately following the completion of the Arrangement (the "Combined Company") will be a well-financed precious metals producer with established silver production in
- Enhanced portfolio of projects: The Arrangement combines Platosa's high-grade silver production with the high return and low risk
Kilgore development project, creating a pipeline for growth. Furthermore, it adds two significantly undervalued gold assets,Kilgore andOakley , to Excellon's portfolio and amplifies the Combined Company's exposure to precious metals in the early stages of an anticipated bull market. - Significant exploration upside: Active exploration on four key mineral trends including the CRD and
Fresnillo epithermal silver trends inMexico , the re-emergingIdaho gold region, and the historic Freiberg district in Saxony, all known for multi-million ounce precious metal discoveries. - Geographic diversification: Diverse, well-established mining jurisdictions across two continents, reducing single asset risk and positioning the Combined Company for further growth in
North America . - Enhanced capital market profile:
The Combined Company will be well financed withUS$10 million in cash and available funds, with a pro forma combined market capitalization of approximatelyC$122 million (based on the basic outstanding shares of the Combined Company after giving effect to the exchange ratio under the Arrangement and the price of common shares of Excellon (the "Excellon Shares"), immediately prior to the announcement of the Arrangement) and will be listed on the TSX.The Combined Company also intends to apply for a listing on theNYSE American LLC stock exchange ("NYSE American") inthe United States which may increase its capital markets presence, trading liquidity and shareholder base. - Re-rating potential: Expanded resource base and production growth profile of the Combined Company is expected to demand a more attractive valuation and provide re-rating potential in line with larger precious metals peers.
- Proven board and management: Board and management that can discover, permit, finance, develop and operate mining assets to industry leading standards, with proven experience in
North America .
Shareholder Questions
If you have any questions regarding the Arrangement please contact
About Excellon
Excellon's 100%-owned
Additional details on Excellon's properties are available at www.excellonresources.com.
About Otis Gold
Otis Gold is a resource company focused on the acquisition, exploration, and development of precious metal deposits in
Additional details on Otis Gold's properties are available at www.otisgold.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Canadian securities laws. Such statements in this press release include, without limitation, statements regarding the synergies of the Arrangement; the anticipated benefits of the Arrangement to shareholders of Excellon and Otis Gold; the third-party approvals required to complete the Arrangement; the conditions required to be satisfied to complete the Arrangement; the ability of the companies to complete the Arrangement on terms announced; the future results of operations of the Combined Company following the completion of the Arrangement, the timing of the companies to hold their respective shareholders' meetings; the proposed listing on the NYSE American; the intentions, plans and future actions of the companies participating in the transactions described herein; the board and management of the Combined Company; timing to list Excellon Shares on the NYSE American, performance and achievements of the Combined Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the anticipated cash position and market capitalization of the Combined Company, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business and market trends and future operating revenues. Although the companies believe that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The companies caution investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the inability to satisfy the conditions required to complete the Arrangement; the companies not being able to obtain third-party approvals; the Arrangement being terminated; variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The companies do not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
The public disclosure filings of Excellon and Otis Gold may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the mineral properties of the Combined Company, and particularly the
This press release is not and is not to be construed in any way as, an offer to buy or sell securities in
Neither the
SOURCE
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