Two independent proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis and Co have each recommended that shareholders in TSX-listed Excellon Resources approve the proposed acquisition of Otis Gold.
ISS and Glass Lewis said that transaction made sense for Excellon shareholders as the combined entity would have a more diversified portfolio of assets, consisting of Excellon’s high-grade Platosa silver mine and Otis’ Kilgore gold development project.