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
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