Excellon Announces $8 Million Convertible Debenture Financing

20200703

Toronto, Ontario – July 3, 2020 – Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) (“Excellon” or the “Company”) is pleased to announce that it has signed a binding term sheet for a fully subscribed financing of C$8,000,000 (the “Financing”) through the private placement of secured convertible debentures of the Company (the “Debentures“).  The proceeds will be used to repay the US$6 million bridge loan with Sprott Private Resource Lending II (Collector), LP entered into in connection with the acquisition of Otis Gold Corp. References to principal amounts and conversion or exercise prices in respect of the Financing are in Canadian dollars.

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