An “URGENT NOTICE” is necessary FOR THE ENTIRE MINING COMMUNITY IN MEXICO, CANADA, USA, GERMANY, AND ALL PLACES WHERE EXCELLON RESOURCES HAS COMMERCIAL DEALS SO THAT THEY FIND OUT HOW THE DIRECTORS BEFACE LITIGATION AND RESOLVE ITS BUSINESS.
If you think that Excellon has begun to settle their legal issue in Mexico, it is quite the opposite, they sink deeper and deeper and take the litigation to Canada. The company San Pedro Resources, S. A. de C. V., domiciled in Miguel Auza, Zacatecas México, is a subsidiary of Excellon Resources Inc. domiciled in Toronto, Canada.
a).- On July 2nd, 2021, the Excellon company publicly reported that the Mexican Justice denied them protection and that they were sentenced to pay 23 million dollars.
In an absurd way, on July 13th, 2021, just a few days after the official notice, the company San Pedro Resources, (Excellon) entered into a Guarantee Contract with the company of Canadian origin TSX TRUST COMPANY.
This contract was entered into after they became aware that they were denied protection, which is the last legal recourse they had in the litigation in Mexico.
The foregoing was published in the notices on their website on July 2nd, 2021.
b).- Due to the foregoing, it is incomprehensible that San Pedro Resources (Excellon) has entered into a "Guarantee Agreement" that compromised all its assets, existing and future, which is illegal, having full knowledge of the existence of a payment obligation for 23 million dollars.
When San Pedro Resources signed that contract in July 2021, Excellon communicated historical results in the mine (Platosa) and processing plant (Miguel Auza) the same results are achieved in the 3rd. and 4th. Quarter. (they are attached)
Excellon held a Trust Indeture with TSX Trust Company and stated an amount of $18 million Canadian dollars.
c).- Excellon failed to give official notice of the executed "GUARANTEE CONTRACT" nor did they inform of the destination of the debentures stated in this.
d).- Excellon failed to explain the reason why they pledged all the present and future assets of San Pedro Resources, S. A. de C. V.
e).- San Pedro Resources provided its address in 10 King Street East, Suite 200, Toronto Ontario, Canada M5C 1C3 with Alfred Colas, Chief Financial Officer & Vice President Corporate Development of Excellon.
From the foregoing, the fraudulent way in which they uselessly attempt to avoid their payment obligation is evident. Another big mistake of his team who may not be aware that in Mexico this contract can be declared null if it tries to evade the payment of an obligation and the parties that signed it incur criminal liability, bringing this litigation to Canada.
There´s and old saying: Greed makes man blind and foolish. Thank you for taking this litigation to Canada!!!
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