McEwen Mining Inc. (TSX: MUX) has announced a strategic financing to continue its successful ongoing exploration program at its properties in the Timmins region.
The financing consists of a US$15,000,000 (Cdn$20,034,680) bought deal private placement offering of 6,634,000 flow-through common shares per flow-through common share led by Cantor Fitzgerald Canada Corporation as sole bookrunner. The offering price represents a premium of 26% over the closing price of McEwen common shares on the TSX as of Dec. 5, 2018.
Proceeds of this offering will be used exclusively for generative exploration activities on McEwen’s properties in the Timmins region.