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McEwen Mining Inc.

McEwen Mining Announces Flow-Through Financing

Aug 18, 2020
TORONTO, Aug. 18, 2020 (GLOBE NEWSWIRE) - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX)is pleased to announce a strategic financing to continue our successful exploration program at our properties in the Timmins region of Ontario.
 
The financing consists of a US$9,912,500 (Cdn$13,080,000) bought deal private placement offering (the “Offering”) of 6,000,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.65 (Cdn$2.18) per flow-through common share (the “Offering Price”) led by Cantor Fitzgerald Canada Corporation as sole bookrunner, and includes Roth Capital Partners, Red Cloud Securities Inc., and Maison Placements Canada Inc. The Offering Price represents a premium of 21% over the closing price of McEwen common shares on the TSX as of August 17, 2020. The Offering is expected to close on or before September 10, 2020 (the “Closing”) and is subject to customary closing conditions, including approval from the TSX and NYSE.
 
The proceeds of this Offering will be used exclusively for generative exploration activities 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 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.
 

 


Source: https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2020/McEwen-Mining-Announces-Flow-Through-Financing/default.aspx

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