Excellon Resources Achieves Debt Restructuring Milestone

Excellon Resources (TSE:EXN) has released an update.

Excellon Resources Inc. has successfully restructured its debt by cutting the principal of its outstanding 5.75% secured convertible debentures by 58% to C$7.5 million and amending their terms. The deal, which includes a mix of company equity, contingent value rights, royalties, and interest in a subsidiary, aims to boost shareholder equity and enhance investment opportunities in its gold and silver projects. The restructuring entails an extended maturity date, a lower conversion price, and an increased interest rate, pending final Toronto Stock Exchange approval.

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