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McEwen Mining Announces Fox Complex Growth Funding Secured by Registered Direct Offering

Feb 5, 2021
TORONTO, Feb. 05, 2021 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (the “Company” or “McEwen”) (NYSE and TSX: MUX), announces an oversubscribed registered direct offering with several existing and new institutional investors for the sale of an aggregate of 30,000,000 shares of common stock at a purchase price of $1.05 per share (the “Offering”).
 
“The timing of this offering was critical for two reasons: 1. It completes the funding required to bring the Froome deposit into production later this year. Froome is our production bridge to the future growth of the Fox Complex, where we see potential for higher gold production, lower cost per ounce and a longer mine life; and 2. It will strengthen our balance sheet and working capital position, which will help address our going concern note and debt covenants,” commented Rob McEwen, Chairman and Chief Owner.
 
Cantor Fitzgerald & Co. and Roth Capital Partners are acting as exclusive co-lead placement agents for the Offering in the United States and internationally (except Canada).
 
The Offering is expected to close on February 9, 2021 and is subject to customary closing conditions, including approvals from the TSX and the NYSE.
 
The shares of common stock described above are being offered in the United States pursuant to an effective “shelf” registration statement (File No. 333-224476) that was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on July 6, 2018. The securities may be offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus will be filed with the SEC. The prospectus supplement and accompanying prospectus, when filed, will be available on the SEC’s website at http://www.sec.gov and may also be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by telephone at (212) 829-7122, or by e-mail at prospectus@cantor.com, and from Roth Capital Partners at 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147.
 
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/McEwen-Mining-Announces-Fox-Complex-Growth-Funding-Secured-by-Registered-Direct-Offering/default.aspx

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El Socio Comercial de Recursos Humanos supervisará todos procesos de reclutamiento y todas las actividades de recursos humanos para las operaciones existentes y los nuevos proyectos en Argentina. 

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