Excellon announces share consolidation effective May 8, 2013
Toronto Stock Exchange - EXN
TORONTO, May 6, 2013 /PRNewswire/ - Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the Company"), Mexico's highest grade silver producer, is pleased to announce that the Toronto Stock Exchange (the "Exchange") has approved the consolidation of the Company's common shares ("Common Shares") on a basis of one (1) post-consolidation Common Share for each five (5) pre-consolidation Common Shares (the "Consolidation") and has no objection to the Common Shares trading on a post consolidated basis effective at the opening of market on Wednesday May 8, 2013 under the new CUSIP number 30069C207.
Letters of transmittal with respect to the Consolidation have been mailed out to all registered shareholders by the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"). The letter of transmittal describes the process by which registered shareholders may obtain new certificates representing consolidated Common Shares and all registered shareholders of the Company will be required to send their certificates representing pre-Consolidation Common Shares with a properly executed letter of transmittal to Computershare, in accordance with the instructions provided in the letter of transmittal. No fractional Common Shares will be issued. Where the Consolidation results in a fractional Common Share, the number of post-Consolidation Common Shares will be rounded down to the nearest whole Common Share. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not need to complete a letter of transmittal.
An Evolution in High Grade Silver: Excellon's 100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in the country. The Company is positioning itself to capitalize on undervalued projects by focusing on increasing La Platosa's profitable silver production and near term mineable resources.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release, which has been prepared by management. This press release contains forward-looking statements within the meaning of applicable securities laws. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, particularly silver, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and particularly the November 22, 2011 NI 43-101-compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the La Platosa Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
SOURCE Excellon Resources Inc.