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McEwen Mining Inc.

McEwen Mining Announces Closing of Financing

Sep 10, 2020
TORONTO, Sept. 10, 2020 (GLOBE NEWSWIRE) - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that it has closed its previously announced "bought deal" private placement in the upsized amount of 6,298,166 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Flow-Through Shares") at a price of US$1.65 (Cdn$2.18) per Flow-Through Share for total gross proceeds of US$10.4 million (Cdn$13.7 million). The Offering was completed through a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation as sole bookrunner, and includes Roth Capital Partners, LLC, Red Cloud Securities Inc., and Maison Placements Canada Inc.
 
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.
 
ABOUT MCEWEN MINING
 
McEwen Mining is a diversified gold and silver producer and explorer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen Mining’s goal is to create a profitable gold and silver producer focused in the Americas.
 
McEwen Mining has approximately 408 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 20% of the shares.
 
CONTACT INFORMATION:
 
Investor Relations:
(866)-441-0690 Toll Free
(647)-258-0395
 
Mihaela Iancu ext. 320
info@mcewenmining.com 150 King Street West
Suite 2800, P.O. Box 24
Toronto, ON, Canada
M5H 1J9
 

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

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