TORONTO, Dec. 18, 2020 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is happy to announce that as a consequence of sturdy investor demand, it has elevated its beforehand introduced non-brokered non-public placement from 6,136,000 widespread shares (CDN$10,001,680) to 7,056,400 widespread shares (CDN $11,501,932) of the Company issued on a flow-through foundation (the “FT Shares”) at a value per share of CDN $1.63, with an possibility to extend the Providing from 920,400 FT Shares (CDN$1,500,252) to 1,058,460 FT Shares (CDN$1,725,290) exercisable at any time as much as two enterprise days previous to the closing of the Providing by means of a non-brokered non-public placement. The Providing Worth represents a premium of twenty-two% over the closing value of McEwen Mining widespread shares on the TSX as of December 16, 2020.
The gross proceeds from the sale of FT Shares shall be used for expenditures which qualify as Canadian Exploration Bills (CEE) inside the that means of the Earnings Tax Act (Canada). The Firm will resign such CEE expenditures with an efficient date of no later than December 31, 2020.
The Frequent Shares issued shall be topic to a 4 month maintain interval. The Providing is predicted to shut on or earlier than December 30, 2020 and is topic to customary closing circumstances, together with approval from the TSX and NYSE.
This press launch shouldn’t be a proposal of widespread shares on the market in america. The widespread shares will not be supplied or bought in america absent registration or an obtainable exemption from the registration necessities of the US. Securities Act of 1933, as amended (the “U.S. Securities Act”) and relevant U.S. state securities legal guidelines. McEwen won’t make any public providing of the securities in america. The widespread shares haven’t been and won’t be registered beneath the U.S. Securities Act, or any state securities legal guidelines. This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of those securities, in any jurisdiction through which such provide, solicitation or sale can be illegal.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This information launch incorporates sure forward-looking statements and knowledge, together with “forward-looking statements” inside the that means of the Non-public Securities Litigation Reform Act of 1995. The forward-looking statements and knowledge expressed, as on the date of this information launch, comprise McEwen Mining Inc.’s (the “Firm”) estimates, forecasts, projections, expectations or beliefs as to future occasions and outcomes. Ahead-looking statements and knowledge are essentially primarily based upon numerous estimates and assumptions that, whereas thought of affordable by administration, are inherently topic to vital enterprise, financial and aggressive uncertainties, dangers and contingencies, and there could be no assurance that such statements and knowledge will show to be correct. Due to this fact, precise outcomes and future occasions might differ materially from these anticipated in such statements and knowledge. Dangers and uncertainties that might trigger outcomes or future occasions to vary materially from present expectations expressed or implied by the forward-looking statements and knowledge embrace, however are usually not restricted to, results of the COVID-19 pandemic, fluctuations available in the market value of treasured metals, mining trade dangers, political, financial, social and safety dangers related to overseas operations, the power of the company to obtain or obtain in a well timed method permits or different approvals required in reference to operations, dangers related to the development of mining operations and graduation of manufacturing and the projected prices thereof, dangers associated to litigation, the state of the capital markets, environmental dangers and hazards, uncertainty as to calculation of mineral assets and reserves, and different dangers. Readers mustn’t place undue reliance on forward-looking statements or data included herein, which communicate solely as of the date hereof. The Firm undertakes no obligation to reissue or replace forward-looking statements or data because of new data or occasions after the date hereof besides as could also be required by regulation. See McEwen Mining’s Annual Report on Kind 10-Okay for the fiscal 12 months ended December 31, 2019 and different filings with the Securities and Change Fee, beneath the caption “Threat Elements”, for extra data on dangers, uncertainties and different components referring to the forward-looking statements and knowledge concerning the Firm. All forward-looking statements and knowledge made on this information launch are certified by this cautionary assertion.
The NYSE and TSX haven’t reviewed and don’t settle for accountability for the adequacy or accuracy of the contents of this information launch, which has been ready by administration of McEwen Mining Inc.
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver producer and explorer with working mines in Nevada, Canada, Mexico and Argentina. It additionally owns a big copper deposit in Argentina. McEwen Mining’s purpose is to create a worthwhile gold and silver producer centered within the Americas.
McEwen Mining has roughly 409 million shares excellent. Rob McEwen, Chairman and Chief Proprietor, owns 20% of the shares.
