McEwen Mining announces flow-through financing

McEwen Mining announced a financing to fund continued exploration and development at the Fox Complex in the Timmins region of Ontario. The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenditures and Canadian Development Expenditures within the meaning of subsection 66(15) of the Income Tax Act on McEwen’s properties in the Timmins region: Part 1 of the financing consists of a US$7.3 million private placement of 788,000 flow-through common shares at a price of US$9.27; and Part 2 of the financing consists of a US$8.8 million private placement of 1,115,000 flow-through common shares at a price of US$7.86. The Offering of 1,903,000 flow-through common shares for US$16.1 million is expected to close on December 14, 2023 nd is subject to customary closing conditions, including approval from the TSX and NYSE.