McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, has closed on its private placement financing. The company had previously announced that the financing was comprised 1,903,000 flow-through common shares for total gross proceeds of $16.1 million. Specifically, the financing consisted of two parts: part 1 included a $7.3 million private placement of 788,000 flow-through common shares at a price of $9.27 per share, and part 2 included an $8.8 million private placement of 1,115,000 flow-through common shares at a price of $7.86 per share. According to the announcement, the company plans to use funds from the financing in the following ways: part 1 funds will be exclusively for qualifying Canadian Exploration Expenditures (“CEE”), and part 2 funds will be used for Canadian Development Expenditures (“CDE”), within the meaning of subsection 66(15) of the Income Tax Act (Canada) on McEwen Mining’s properties in the Timmins region. Cantor Fitzgerald Canada Corporation and Roth Capital Partners LLC acted as colead placement agents for the offering with PearTree Canada structuring the flow-through donation placement.
To view the full press release, visit https://ibn.fm/bfF3o
About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, chair and chief owner, has personally provided the company with $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]
InvestorWire is powered by IBN