McEwen Copper Closes US$15.0 Million Second Tranche of Private Placement
June 21 2022 - 1:53PM
McEwen Copper Inc., a subsidiary of
McEwen
Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce
the closing of the second tranche of the previously announced
private placement offering (the “Offering”) of up to 8,000,000
common shares of McEwen Copper Inc. priced at US$10.00 per common
share. The second tranche is comprised of a $10 million investment
by the Victor Smorgon Group advised by Arete Capital Partners, both
of Australia, and $5 million from other investors, for total gross
proceeds of $15.0 million. The amounts raised in the first and
second tranches of the private placement now stand at $55.0
million. The Offering remains open until July 6th, 2022.
McEwen Copper is well-funded to complete the
updated preliminary economic assessment (PEA) in early Q1 2023, the
upcoming drilling season from October 2022 to June 2023, and the
planned IPO in H1 2023.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTSThis news release contains certain
forward-looking statements and information, including
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. See McEwen Mining's
Annual Report on Form 10-K for the fiscal year ended December 31,
2021, and other filings with the Securities and Exchange
Commission, under the caption "Risk Factors", for additional
information on risks, uncertainties and other factors relating to
the forward-looking statements and information regarding the
Company. All forward-looking statements and information made in
this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not
accept responsibility for the adequacy or accuracy of the contents
of this news release, which has been prepared by the management of
McEwen Mining Inc.
ABOUT MCEWEN COPPERMcEwen Copper owns 100% of
the giant Los Azules Copper Project in San Juan, Argentina, and the
Elder Creek Copper Project in Nevada, USA. There are 23 million
common shares outstanding.
CONTACT INFORMATION: |
|
Corporate Development:Stefan Spears,
VPstefan@mcewenmining.com |
Website: www.mcewenmining.com |
150 King Street WestSuite 2800, P.O. Box 24Toronto, ON, CanadaM5H
1J9 |
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