McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, announced financing aimed at funding continued exploration and development at the Fox Complex in the Timmins region of Ontario. According to the announcement, the proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenditures (“CEE”) and Canadian Development Expenditures (“CDE”) on McEwen’s properties in the Timmins region. The company noted that the financing was comprised of two parts. Part 1 of the financing included a $7.3 million private placement of 788,000 flow-through common shares at a price of $9.27 and part 2 of the financing included a $8.8 million private placement of 1,115,000 flow-through common shares at a price of $7.86. McEwen anticipates the offering will close on or before Dec. 14, 2023, and is subject to standard closing conditions, including approval from the TSX and NYSE exchanges.
To view the full press release, visit https://ibn.fm/aXrbf
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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