Toronto, Ontario–(Newsfile Corp. – January 10, 2024) – Excellon Resources Inc. (TSX: EXN) (OTCQB: EXNRF) (FSE: E4X2) (“Excellon” or the “Company”) is pleased to provide the following “Year in Review” and corporate update, with the intention of providing clarity on key value drivers for 2024.
2023 Year in Review
Summary
- Eliminated the US$22 million litigation liability overhang, through the deconsolidation of San Pedro Resources1.
- Shareholders approved the restructuring of the Company’s 5.75% secured convertible debentures (the “Convertible Debentures“)2, which restructuring, when completed, is anticipated to reduce indebtedness by 58% or $10.4 million and provide a clearer runway for equity recovery.
- At Kilgore, a positive U.S. District Court ruling3 upheld Excellon’s Plan of Operations, supporting Excellon’s continued exploration activities in Idaho.
- At Silver City, Excellon recently completed an extension of its Mohorn, Oederan and…
