Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) reported that it has closed its previously announced debt settlement with an arm's length creditor involving the sum of about C$546,000 by issuing 2,427,917 Excellon Resources common shares at a deemed price of C$0.225 per share.
The securities issued are subject to a four-month hold period under applicable Canadian securities laws, which will expire on January 18, 2026.
The debt settlement is subject to final acceptance of the TSX Venture Exchange.