Excellon Resources (TSE:EXN) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.
For further insights into TSE:EXN stock, check out TipRanks’ Stock Analysis page.