The Prospector News

McEwen Mining Closes Flow-Through Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

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

Share this news article

MORE or "UNCATEGORIZED"


Orezone Reports Q3-2024 Gold Production

Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to ... READ MORE

October 17, 2024

Abitibi Metals Extends Western Plunge in Step-Out Drilling at the B26 Polymetallic Deposit

Highlights: The 16,500-metre phase 2 drill program is currently u... READ MORE

October 17, 2024

Silver Elephant's Paca Open-Pit Silver Production Surpassed 1.1 Million oz

Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2)  an... READ MORE

October 17, 2024

Benton Drilling Intersects Wide Zones of Significant Gold at South Pond Including 74.20 m of 1.43g/t Au and 43.75 m of 1.62g/t Au

Benton Resources Inc. (TSX-V: BEX)  is pleased to announce that ... READ MORE

October 17, 2024

Goldstorm Metals Completes Surface Sampling Expanding Numerous Precious and Base Metal Zones at Electrum and Crown Properties Within the Heart of the Golden Triangle of Northwest British Columbia

Goldstorm Metals Corp. (TSX-V: GSTM) (FSE: B2U) is pleased to rep... READ MORE

October 17, 2024

Copyright 2024 The Prospector News