McEwen Mining raising $15million to develop Froome deposit near Black Fox
McEwen Mining Inc. has announced 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 Timmins.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.
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