Excellon Resources Inc.

10:28 AM EST - Excellon Resources Inc. : Has signed a binding term sheet for a fully subscribed financing of $8,000,000 through the private placement of secured convertible debentures of the Company The proceeds will be used to repay the $6-million U.S. bridge loan with Sprott Private Resource Lending II (Collector), LP entered into in connection with the acquisition of Otis Gold Corp. References to principal amounts and conversion or exercise prices in respect of the Financing are in Canadian dollars. Excellon Resources Inc. shares T.EXN are trading up $0.03 at $0.87.