TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is happy to announce the closing of the second tranche of the beforehand introduced non-public placement providing (the “Providing”) of as much as 8,000,000 widespread shares of McEwen Copper Inc. priced at US$10.00 per widespread share. The second tranche is comprised of a $10 million funding by the Victor Smorgon Group suggested by Arete Capital Companions, each of Australia, and $5 million from different buyers, for complete gross proceeds of $15.0 million. The quantities raised within the first and second tranches of the non-public placement now stand at $55.0 million. The Providing stays open till July 6th, 2022.
McEwen Copper is well-funded to finish the up to date preliminary financial evaluation (PEA) in early Q1 2023, the upcoming drilling season from October 2022 to June 2023, and the deliberate IPO in H1 2023.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any jurisdiction during which such provide, solicitation or sale could be illegal.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This information launch incorporates sure forward-looking statements and data, together with “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Act of 1995. See McEwen Mining’s Annual Report on Type 10-Okay for the fiscal 12 months ended December 31, 2021, and different filings with the Securities and Change Fee, below the caption “Threat Elements”, for added info on dangers, uncertainties and different elements regarding the forward-looking statements and data concerning the Firm. All forward-looking statements and data made on this information launch are certified by this cautionary assertion.
The NYSE and TSX haven’t reviewed and don’t settle for duty for the adequacy or accuracy of the contents of this information launch, which has been ready by the administration of McEwen Mining Inc.
ABOUT MCEWEN COPPER
McEwen Copper owns 100% of the large Los Azules Copper Undertaking in San Juan, Argentina, and the Elder Creek Copper Undertaking in Nevada, USA. There are 23 million widespread shares excellent.