By Devika Patel
Knoxville, Tenn., April 15 - Excellon Resources Inc. said it settled a fourth and final tranche of a best-efforts private placement of stock for about C$1.96 million. It raised a total of about $7.37 million in the deal, which priced for $7.5 million on March 18.
The company raised C$2.92 million in the first tranche on March 18 and C$750,500 in the second tranche on March 19. It took in about C$1.96 million in the third tranche on April 2.
Excellon sold a total of 38,810,779 common shares.
The company sold 15,403,479 shares in the first tranche and 3.95 million shares in the second tranche. It sold 10,316,000 shares in the third tranche and 9,141,300 shares in this one.
The deal was conducted Maison Placements Canada Inc.
Proceeds will be used for development and general working capital purposes.
Toronto-based Excellon is a mineral resource company.
| Issuer: | Excellon Resources Inc.
|
| Issue: | Common shares
|
| Amount: | C$7.37 million (approximate)
|
| Shares: | 38,810,779
|
| Warrants: | No
|
| Underwriters: | Maison Placements Canada Inc.
|
| Settlement date: | March 18 (for C$2.92 million), March 19 (C$750,500), April 2 (for about C$1.96 million), April 15 (for about C$1.96 million)
|
| Stock symbol: | Toronto: EXN
|
| Stock price: | C$0.235 at close March 18
|
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