Email Signup. TORONTO , April 23, 2020 /CNW/ - Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) ("Excellon" or the "Company") and Otis Gold Corp. (TSX-V:OOO, OTC:OGLDF, FRA:4OG) ("Otis… Low risk, high return gold development project located in Idaho with US$185M NPV, 53% IRR (post-tax, @$1,500 Au) with modest cap-ex of $81M. The proceeds of the Loan are to be used by Otis Gold to provide general working capital during the period from the execution of the Definitive Agreement until closing of the Transaction. ... Sign up for the latest news and updates. On February 24, 2020, Excellon Resources Inc. and Otis Gold Corp. announced a definitive agreement whereby Excellon will acquire all the issued and outstanding shares of Otis Gold pursuant to a plan of arrangement under the Business Corporations Act (British Columbia). The deposit has similar characteristics to Kinross’ Round Mountain Mine with exploration upside for resource expansion and new discoveries. Please enter a valid email address. Excellon has agreed to advance Otis Gold a bridge loan in the principal amount of up to C$500,000 (“Loan”) in two tranches of $250,000. Otis Gold Corp announced today that they have filed a joint management information circular (the “Circular”), which will be mailed out to their respective shareholders’ next week for the meetings to be held on April 17, 2020, in connection with the previously announced acquisition by Excellon of all Close [X] Excellon and Otis Gold File Joint Circular In Connection With Proposed Arrangement View PDF Mar 16, 2020. Sign up for the latest news and updates. Please enter a valid email address.
Sign up for the latest news and updates. Bridge Loan to Otis.