- McEwen Copper, a subsidiary of McEwen Mining (MUX), has closed the second tranche of a private placement offering for gross proceeds of $15 million
- The offering is for 8,000,000 common shares of McEwen Copper Inc. priced at US$10.00 per common share
- The amounts raised in the first and second tranches totals $55.0 million
- McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States
- McEwen Mining Inc. was up 3.175 per cent, trading at C$0.65 at 2:26 PM ET
McEwen Copper, a subsidiary of McEwen Mining (MUX), has closed the second tranche of a private placement offering.
The second tranche is made up 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 company will issue a total of 8,000,000 common shares, priced at US$10.00 per common share.
The amounts raised in the first and second tranches of the private placement totals $55.0 million. The offering remains open until July 6th, 2022.
McEwen Copper is well-funded to complete the updated preliminary economic assessment (PEA) early in the first quarter of 2023, the upcoming drilling season from October 2022 to June 2023, and a planned IPO in the first half of 2023.
McEwen Copper owns 100 per cent 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.
McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States.
McEwen Mining Inc. was up 3.175 per cent, trading at C$0.65 at 2:26 PM ET.