Excellon Announces Results of 2024 Annual Meeting

Rhea-AI Summary

Excellon Resources announced the results of its 2024 Annual Meeting held on June 28, 2024. Shareholders voted in favor of all business items, including the election of directors and the appointment of Ernst & Young LLP as auditors. Directors elected include Shawn Howarth, Laurence Curtis, Craig Lindsay, Brendan Cahill, and Gerhard Merkel. The election of Merkel is subject to TSX approval. Detailed voting results show high support for the nominees, with votes ranging from 88.95% to 99.34% in favor. The formal voting report will be available on SEDAR+.

Positive

• Shareholders approved all items of business at the Annual Meeting.
• High approval rates for director nominees, with support ranging from 88.95% to 99.34%.
• Appointment of Ernst & Young LLP as auditors was confirmed.

Negative

• The election of Gerhard Merkel is subject to TSX approval, adding an element of uncertainty.

Toronto, Ontario--(Newsfile Corp. - June 28, 2024) - Excellon Resources Inc. (TSX: EXN) (OTCQB: EXNRF) (FSE: E4X2) ("Excellon" or the "Company") is pleased to report that the holders of common shares of the Company voted in favour of all items of business at the Company's 2024 Annual Meeting of Shareholders (the "Meeting") held on June 28, 2024, being the election of all nominated directors and the appointment of Ernst & Young LLP as the auditors of the Company.

Detailed results from the election of directors are set out below:

Director	For	% For	Withheld	% Withheld
Shawn Howarth	31,594,021	88.970	3,916,965	11.030
Laurence Curtis	35,188,227	99.091	322,759	0.909
Craig Lindsay	31,591,577	88.963	3,919,409	11.037
Brendan Cahill	31,589,497	88.957	3,921,489	11.043
Gerhard Merkel	35,279,461	99.348	231,525	0.652

 

The election of Mr. Merkel as a director of the Company is subject to the approval of the TSX. Mr. Merkel has been nominated by the holders of the Company's outstanding 6.50% secured convertible debentures due August 31, 2026, in accordance with the director nomination right granted to such holders.

The formal report on voting results with respect to all matters voted upon at the Meeting will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

About Excellon

Excellon's vision is to realize opportunities through the acquisition of advanced development or producing assets with further potential to gain from an experienced management team for the benefit of our employees, communities and shareholders. The Company is advancing a portfolio of gold, silver and base metals assets including Kilgore, an advanced gold exploration project in Idaho; and Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and little modern exploration.

Additional details on Excellon's properties are available at www.excellonresources.com.

For Further Information, Please Contact:

Excellon Resources Inc.
Shawn Howarth, President & Chief Executive Officer
info@excellonresources.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

All statements, other than statements of historical fact, contained, referenced or incorporated by reference in this news release constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as: "actively", "advance", "anticipated", "assess", "believe", "cause", "commence", "completion", "conditions", "consideration", "continues", "development", "due course", "expectation", "exploration", "extend", "extension", "flexibility", "focused", "forward", "further", "future", "if", "implement", "liquidity", "looking", "maturity", "may", "negotiations", "occur", "opportunities", "options", "outcome", "outstanding", "potential", "providing", "reach", "restructuring", "risk", "subject to", "to be", "update", "vision", "waive", "when", "will", and "would", or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, to, will, would (or not) be achieved, occur, provide, result, complete or support in the future or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include statements regarding the timing and ability of the Company to receive necessary approvals; exploration and drilling programs, including the timing, completion and results thereof; potential mineralization; and the Company's objectives, goals and future plans and strategies. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the "Risk Factors" in the Company's annual information form dated April 1, 2024 (the "2024 AIF"), and the risks, uncertainties, contingencies and other factors identified in the Company's Management's Discussion and Analysis, and accompanying financial statements, for the year ended December 31, 2023, and the Company's other applicable public disclosure (collectively, "Company Disclosure"). The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the 2024 AIF and the other Company Disclosure. The forward-looking statements referenced or contained in this news release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the other Company Disclosure. Forward-looking statements contained herein are made as of the date of this news release (or as otherwise expressly specified) and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214940

FAQ

What were the results of Excellon Resources' 2024 Annual Meeting?

Shareholders approved all items of business, including the election of directors and appointment of Ernst & Young LLP as auditors.

Who were the directors elected at Excellon Resources' 2024 Annual Meeting?

Elected directors include Shawn Howarth, Laurence Curtis, Craig Lindsay, Brendan Cahill, and Gerhard Merkel.

What were the approval rates for the directors elected at Excellon Resources' 2024 Annual Meeting?

Approval rates for the directors ranged from 88.95% to 99.34%.

What is the significance of TSX approval for Gerhard Merkel's election?

The election of Gerhard Merkel is subject to TSX approval, which adds an element of uncertainty to his appointment.

What auditing firm was appointed at Excellon Resources' 2024 Annual Meeting?

Ernst & Young LLP was appointed as the auditing firm.

Where can I find the formal voting report for Excellon Resources' 2024 Annual Meeting?

The formal voting report will be available on SEDAR+.