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MiningNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Reports on $70M Private Placement, Funds to Support Los Azules Copper Project

McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, is reporting on a nonbrokered private placement financing. According to the announcement, the private placement is comprised of up to 2,333,333 common shares of its wholly owned subsidiary McEwen Copper Inc. The shares were offered at a subscription price of $30 per common share, resulting in gross proceeds of up to $70 million for the company; McEwen Copper currently has 30,937,615 common shares outstanding. McEwen anticipates using funds from the placement to advance work on a bankable feasibility study for the Los Azules copper project, which is scheduled for publication by Q1 2025. “Lead orders to purchase 27% of the total offering have been committed by McEwen Mining and Rob McEwen,” the company stated in the press release. “McEwen Mining will purchase up to 466,667 common shares of McEwen Copper for $14 million, and Rob McEwen will purchase up to 166,666 common shares for $5 million. Final investment amounts are subject to adjustment according to antidilution and preemptive rights on the part of other existing shareholders of McEwen Copper.”

To view the full press release, visit https://ibn.fm/Em0nv

About McEwen Mining Inc.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. The company also owns approximately 47.7% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million. 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 MiningNewsWire

MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. 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, MNW 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, MNW brings its clients unparalleled recognition and brand awareness.

MNW is where breaking news, insightful content and actionable information converge.

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MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com

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