The Company intends to use the proceeds from the Private Placement for exploration of the Company’s portfolio of resource properties in Mexico and for general working capital.
During the quarter ended June 30, 2020, the Company raised Cdn$1,000,000 through the issue of 20,000,000 shares at an issue price of Cdn$0.05 per share, which financing was closed after the end of the quarter.
Excellon Resources Inc. is pleased to report that shareholders voted in favour of all items of business, including the election of directors at the 2020 Annual Meeting held on August 13, 2020.
Greg McKenzie, President and CEO commented, “We are pleased with the overwhelming support in this capital raise and are keen to move forward with the advancement of the Company’s 100% owned San Diego Project, as well as other strategic opportunities.”
Riverside’s President & CEO, John-Mark Staude stated, “We are delighted to work closely together with Alberto Orozco and the highly experienced Mexico-based technical team on the Peñoles Mining District and the launching of this new spin-out company, Capitan Mining.”
In aggregate, the company issued a total of 25,641,902 Units for gross proceeds of $3,974,495.
The net proceeds of the Offering will be used to fund the Proposed Transaction, complete any required work program in relation to the Proposed Transaction and for general working capital purposes.
Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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