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McEwen Mining Closes Flow-Through Financing

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McEwen Mining Closes Flow-Through Financing

 

 

 

 

 

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce the closing of the previously announced private placement financing of 1,903,000 flow-through common shares for total gross proceeds of US$16.1 million (Cdn$22,016,150).

 

The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenditures and Canadian Development Expenditures, within the meaning of subsection 66(15) of the Income Tax Act (Canada), on McEwen Mining’s properties in the Timmins region:

 

Part 1 (CEE) of the financing consists of a US$7.3 million (Cdn$10,007,600) private placement of 788,000 flow-through common shares at a price of US$9.27 (Cdn$12.70); and

 

Part 2 (CDE) of the financing consists of a US$8.8 million (Cdn$12,008,550) private placement of 1,115,000 flow-through common shares at a price of US$7.86 (Cdn$10.77), (Part 1 and Part 2 together being the “Offering”).

 

Cantor Fitzgerald Canada Corporation and Roth Capital Partners, LLC are acting as exclusive co-lead placement agents for the Offering and PearTree Canada structured the flow-through donation placement.

 

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 US. 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 gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 47.7% of McEwen Copper which owns the large, advanced stage Los Azules copper project in Argentina. The Company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, Chairman and Chief Owner has personally provided the Company with $220 million and takes an annual salary of $1.

 

Posted December 15, 2023

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