Mr. Rob McEwen reports
MCEWEN MINING ANNOUNCES PRICING OF US$50 MILLION PUBLIC OFFERING
McEwen Mining Inc. has priced an underwritten public offering of 37.75 million units, with each unit comprising one share of common stock and one-half of one warrant to purchase one share of common stock, at a public offering price of $1.325 per unit for aggregate gross proceeds of approximately $50-million (U.S.). Each full warrant is exercisable for one share of common stock, with an exercise price of $1.7225 per share, and are exercisable immediately and for five years following issuance. The company has granted to the underwriters a 30-day option to purchase up to an additional 5,662,500 shares of common stock and/or additional warrants to purchase up to 2,831,250 shares of common stock at the public offering price per share and per warrant, less the underwriting discounts and commissions. The offering is expected to close on or about Nov. 22, 2019, subject to customary closing conditions.
Roth Capital Partners and Cantor Fitzgerald Canada Corp. are acting as joint bookrunning managers for the offering. The company intends to use the net proceeds from the offering for advancing its current mining projects and exploration prospects, for additional operating capital, and for general working capital purposes.
About McEwen Mining Inc.
McEwen Mining is a diversified gold and silver producer and explorer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen's goal is to create a profitable gold and silver producer focused in the Americas.
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