McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce the closing of the previously announced private placement offering of 14,500,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.04 (Cdn$1.325) per flow-through common share for total gross proceeds of US$15,080,000 (Cdn$19,212,500). The sole bookrunner for the Offering was Cantor Fitzgerald Canada Corporation and PearTree Canada structured the flow-through donation placement.
The proceeds of this Offering will be used exclusively for qualifying Canadian Exploration Expenditures on McEwen’s properties in the Timmins region.
This press release is not an offer of common shares for sale in the United States. The common shares may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable U.S. state securities laws. McEwen will not make any public offering of the securities in the United States. The common shares have not been and will not be registered under the U.S. Securities Act, or any state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, and Argentina. It also has a large exposure to copper through its subsidiary McEwen Copper, owner of the Los Azules copper deposit in Argentina.
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We acknowledge the [financial] support of the Government of Canada.