Rob McEwen and McEwen Mining File Early Warning Reports in Connection With a Private Placement in Great Bear Resources Ltd.
September 11 2018 - 4:24PM
Rob McEwen, through his wholly owned company Evanachan Limited
(“Evanachan”), and McEwen Mining Inc. (“MUX”) have subscribed today
for 3,930,932 Units (the “Units”) of Great Bear Resources Ltd.
(“GBR”) of 1020-800 West Pender Street, Vancouver, BC, V6C 2V6 at a
price of $1.45 per Unit for an aggregate gross investment of
$5,699,851.40. The subscriptions by Evanachan and MUX were made by
way of private placement, which formed part of a larger offering by
GBR on the same terms (the “Offering”). Each Unit consists of
one common share and one half of a common share purchase warrant
(the “Warrants”), each Warrant is exercisable for 24 months from
the closing of the Offering, at an exercise price of $1.75. This
subscription agreement is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory
approvals. The securities to be issued will be subject to a hold
period of 4 months plus one day in Canada. Prior to
participating in the Offering, neither Evanachan nor MUX held any
securities of GBR.
The 3,144,746 Units purchased by Evanachan
represent 9.20% of the currently issued and outstanding common
shares of GBR. After giving effect to the exercise of the 1,572,373
Warrants (but before the exercise or conversion of any other
securities exercisable or convertible into common shares of GBR),
the common shares and the common share purchase warrants held by
Evanachan represent, in the aggregate approximately 13.19% of the
currently-issued and outstanding common shares of GBR.
The 786,186 Units purchased by MUX represent
2.30% of the currently issued and outstanding common shares of GBR.
After giving effect to the exercise of the 393,093 Warrants (but
before the exercise or conversion of any other securities
exercisable or convertible into common shares of GBR), the common
shares and the common share purchase warrants held by MUX
represent, in the aggregate approximately 3.41% of the
currently-issued and outstanding common shares of GBR.
Evanachan and MUX have acquired the Units of GBR
for investment purposes, and in accordance with applicable
securities laws, they may, from time to time and at any time,
acquire additional common shares of GBR and/or other equity, debt
or other securities or instruments (collectively, “Securities”) of
GBR in the open market or otherwise and reserves the right to
dispose of any or all of its Securities in the open market or
otherwise, at any time and from time to time, and to engage in any
hedging or similar transactions with respect to the Securities, the
whole depending on market conditions, the business and prospects of
GBR and other relevant factors. Evanachan is an Ontario
incorporated company, whose principal business is resource sector
investment. MUX is a Colorado incorporated mining company.
A copy of the early warning report filed in
connection with the offering will be made available on Sedar
(www.sedar.com).
FOR FURTHER INFORMATION PLEASE
CONTACT:
Stefan SpearsEvanachan
Limited and McEwen Mining Inc.150 King St. West
Suite 2800Toronto, Ontario(647)
258-0395 x280
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