McEwen Mining closes more financing for Timmins exploration

McEwen Mining Inc. 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.

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