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Stock impact report

McEwen Copper Announces $70 Million Financing to Advance the Los Azules Copper Project

McEwen Mining Inc. (MUX) 
Last mcewen mining inc. earnings: 3/16 05:01 pm Check Earnings Report
Company Research Source: GlobeNewswire
TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE and TSX: MUX) announces a non-brokered private placement financing of up to 2,333,333 common shares of its wholly-owned subsidiary McEwen Copper Inc. at a subscription price of US$30.00 per common share, for gross proceeds of up to US$70 million (the "Offering"). McEwen Copper currently has 30,937,615 common shares outstanding (basic and diluted). Lead orders to purchase 27% of the total Offering have been committed by McEwen Mining and Rob McEwen. McEwen Mining will purchase up to 466,667 common shares of McEwen Copper for US$14 million and Rob McEwen will purchase up to 166,666 common shares for US$5 million. Final investment amounts are subject to adjustment according to anti-dilution and pre-emptive rights on the part of other existing shareholders of McEwen Copper. This Offering will be used to advance work on a bankable feasibility study for the Los Azules copper project, which is scheduled f Show less Read more
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