Excellon Resources (TSX:EXN:CA) entered a share purchase agreement with Adar Mining to acquire all of the issued and outstanding shares in the capital of Minera CRC S.A.C., which holds a 100% interest in the Mallay Property.
Adar has agreed to sell in exchange for C$1.25M in upfront cash payments and such number of common shares of Excellon that is equal to 12.9% shares.
Excellon (EXN:CA) has arranged ~ $2.725M to fund the upfront cash payments and for working capital during the realization proceedings