Excelsior Mining Corp. announced a private placement to issue 27,180,000 common shares at an issue price of $0.11405 for the gross proceeds of $3,002,031 and 10.5% unsecured convertible debentures due September 30, 2026 for the gross proceeds of $2,400,000; aggregate gross proceeds of $5,402,031 on November 30, 2023. The transaction will include participation from returning investor Greenstone Resources, Ltd. The debentures bear 10.5% per annum and matures on September 30, 2026.

The debentures are subject to shareholders, the principal amount of the Debenture is convertible into Common Shares at the option of the holder (or at the option of the Company on 30 days prior notice) at a conversion price of $0.11405 per Common Share, subject to receipt of the Shareholder Approval, the accrued and unpaid Interest is convertible into Common Shares at a conversion price equal to the volume weighted average trading price on the Toronto Stock Exchange for the five trading days prior to the date of conversion. The closing of the Share Offering and Debenture Offering is subject to customary conditions, including the approval of the Toronto Stock Exchange.