Excellon Announces Closing of Bought Deal Private Placement and Concurrent Private Placement for Gross Proceeds of Approximately C$21.8 Million

Core Viewpoint - Excellon Resources Inc. successfully closed a "bought deal" private placement and a concurrent brokered private placement, raising a total of C$21,821,700 for exploration and development projects in Peru and general corporate purposes [1][2][4]. Group 1: Offering Details - The "Bought Deal Private Placement" involved the sale of 28,036,000 common shares at C$0.60 per share, generating gross proceeds of C$16,821,600 [1]. - The "Concurrent Private Placement" sold an additional 8,333,500 shares to 2176423 Ontario Ltd., owned by Eric Sprott, for gross proceeds of C$5,000,100 [2]. - The total gross proceeds from both offerings amounted to C$21,821,700 [4]. Group 2: Underwriters and Fees - ATB Cormark Capital Markets and Velocity Capital Partners acted as co-lead underwriters, with a cash commission of 6.0% on gross proceeds, reduced to 3.0% for certain purchasers [3]. - The underwriters' agreement was dated March 12, 2026, and included several other firms as part of the underwriting team [3]. Group 3: Use of Proceeds - The net proceeds from the offerings will be allocated for exploration and development of projects in Peru, working capital, and general corporate purposes [4]. Group 4: Regulatory Compliance - The shares were issued under the "listed issuer financing exemption" and are not subject to a four-month statutory hold period in Canada for certain purchasers [5]. - The Concurrent Private Placement shares are subject to a four-month hold period, expiring on July 13, 2026 [6]. Group 5: Related Party Transaction - Eric Sprott's participation in the Concurrent Private Placement is classified as a "related party transaction," exempting the company from certain formal valuation and minority shareholder approval requirements [7].