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McEwen Mining Announces Fox Complex Growth Funding Secured by Registered Direct Offering


Press release content from Globe Newswire. The AP news staff was not involved in its creation.
McEwen Mining Announces Fox Complex Growth Funding Secured by Registered Direct Offering
McEwen MiningFebruary 5, 2021 GMT
TORONTO, Feb. 05, 2021 (GLOBE NEWSWIRE) McEwen Mining Inc. (the “Company” or “McEwen”) (NYSE and TSX: MUX), announces an oversubscribed registered direct offering with several existing and new institutional investors for the sale of an aggregate of 30,000,000 shares of common stock at a purchase price of $1.05 per share (the “Offering”).
“The timing of this offering was critical for two reasons: 1. It completes the funding required to bring the Froome deposit into production later this year. Froome is our production bridge to the future growth of the Fox Complex, where we see potential for higher gold production, lower cost per ounce and a longer mine life; and 2. It will strengthen our balance sheet and working capital position, whic ....

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