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McEwen Mining Inc.

McEwen Mining Announces Flow-Through Financing

Jan 8, 2021
TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a financing to fund development of the Froome deposit, which is expected to reach commercial production in Q4 2021, located at the Fox Complex in the Timmins region of Ontario.
 
The financing consists of a US$11,821,000 (Cdn$15,000,000) private placement offering (the “Offering”) of 11,628,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.02 (Cdn$1.29) per flow-through common share (the “Offering Price”) led by Cantor Fitzgerald Canada Corporation as agent and sole bookrunner. The Offering is expected to close on or before January 28, 2021 (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 qualifying Canadian Development Expenditures (CDE) on McEwen’s properties in the Timmins region.
 
ABOUT MCEWEN MINING
 
McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.

Source: https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2021/McEwenMining-Announces-Flow-Through-Financing/default.aspx

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