Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) said on Thursday it has appointed seasoned mining executive Mike Hoffman to its board of directors, bringing more than three decades of experience in engineering, operations, and project development across the Americas, as the company advances its Mallay project in Peru.
Hoffman currently holds board positions at several mining companies, including NiCan Limited and Fury Gold Mines, and previously served as CEO of Crocodile Gold, Crowflight Minerals, and Kria Resources.
“Mike's breadth of operational leadership complements the deep technical strength of our team,” said CEO Shawn Howarth. “His experience building and operating mines – particularly in Peru – adds significant depth as we advance Mallay.”
Chairman Laurie Curtis added that Hoffman's governance and strategic insight would “strengthen the company’s path back to production and beyond.”
Excellon also said it has elected to issue 1.74 million common shares at a deemed price of C$0.21 to satisfy a C$365,670 interest payment due under its outstanding convertible debentures, and plans to settle C$546,000 in debt through the issuance of 2.43 million shares at C$0.225 per share.