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Excellon Resources ( (TSE:EXN) ) has issued an announcement.
Excellon Resources has arranged a bought deal private placement of 16,666,700 common shares at C$0.60 each, raising gross proceeds of about C$10 million, with an underwriters’ option to increase the financing by up to roughly C$3 million. The financing will be conducted mainly under Canada’s listed issuer financing exemption, with shares offered in most Canadian provinces and select international markets without a Canadian hold period, and proceeds earmarked for exploration and development of the company’s Peruvian projects, along with working capital and general corporate needs, subject to customary regulatory approvals.
The offering is led by ATB Capital Markets and Velocity Capital Partners as co-lead underwriters and joint bookrunners, targeting a closing around March 12, 2026, pending TSX Venture Exchange acceptance and other regulatory clearances. By strengthening its balance sheet and funding project advancement in Peru, Excellon seeks to support a potential restart of the Mallay mine and advance its broader exploration portfolio, which could enhance its growth prospects in the precious and base metals sector.
The most recent analyst rating on (TSE:EXN) stock is a Hold with a C$0.60 price target. To see the full list of analyst forecasts on Excellon Resources stock, see the TSE:EXN Stock Forecast page.
Spark’s Take on TSE:EXN Stock
According to Spark, TipRanks’ AI Analyst, TSE:EXN is a Neutral.
The score is held down primarily by weak financial performance (zero recent revenue, persistent operating losses, and ongoing cash burn). Offsetting factors are improving technical trend signals and positive operational updates around funding, rehabilitation, and restart/exploration plans, but valuation remains constrained by losses (negative P/E).
To see Spark’s full report on TSE:EXN stock, click here.
More about Excellon Resources
Excellon Resources Inc. is a Canada-based mining company focused on acquiring and advancing quality precious and base metal assets. The company’s current strategic priority is the potential restart of the Mallay silver mine in Peru, supported by a portfolio of exploration-stage projects including the Tres Cerros gold-silver property in Peru and other advanced prospects.
Average Trading Volume: 1,871,111
Technical Sentiment Signal: Hold
Current Market Cap: C$225.5M
For detailed information about EXN stock, go to TipRanks’ Stock Analysis page.