---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-027443"
form_type: "8-K"
ticker: "MUX"
cik: "0000314203"
company_name: "McEwen Inc."
filed_at: "2023-03-01T23:59:59+00:00"
generated_at: "2026-06-18T19:10:14.759651+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# McEwen Copper secures ~US$185M from Stellantis and Nuton; valued at ~US$550M

## Summary
- Stellantis invested ARS $30B (~US$155M) for 14.2% of McEwen Copper; Nuton invested US$30M for additional 14.2%.
- McEwen Mining retains 51.9% ownership of McEwen Copper on a fully diluted basis post-transactions.
- Proceeds will advance development of the Los Azules copper project in San Juan, Argentina.
- Stellantis gets board seat, preemptive rights, and copper purchase option; Nuton gets amended collaboration agreement.
- McEwen Copper commits to net-zero carbon emissions from Los Azules by 2038.

## SEC filing metadata
- accession: 0001104659-23-027443
- form_type: 8-K
- ticker: MUX
- cik: 0000314203
- company_name: McEwen Inc.
- filed_at: 2023-03-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/tm237981d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-027443
- JSON: https://secwatch.observer/filing/0001104659-23-027443.json
- Plain text: https://secwatch.observer/filing/0001104659-23-027443.txt

## Key facts
- Material Agreements
  McEwen Inc. entered into Offer Agreement with FCA Argentina S.A. (Stellantis N.V.) valued at 1,250,000 shares of McEwen Copper common stock for aggregate proceeds of ARS $9,146,706,410 ($47,375 (effective 2023-02-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: FCA Argentina S.A. (Stellantis N.V.)
  - Value: 1,250,000 shares of McEwen Copper common stock for aggregate proceeds of ARS $9,146,706,410 ($47,375
  - Effective: 2023-02-23
  source text: the agreement to purchase the common stock of McEwen Copper in the Stellantis Secondary Transaction is embodied in an Offer Agreement of the same date between Stellantis, the Company, McEwen Copper and certain subsidiaries of McEwen Copper (“ Offer ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- Material Agreements
  McEwen Inc. entered into Investor Rights Agreement with Stellantis N.V. valued at Investor Rights Agreement providing board appointment, preemptive rights, and carbon-neutral commitm (effective 2023-02-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Stellantis N.V.
  - Value: Investor Rights Agreement providing board appointment, preemptive rights, and carbon-neutral commitm
  - Effective: 2023-02-23
  source text: the Company, McEwen Copper, Minera Andes Inc., a subsidiary of the Company, Robert McEwen (collectively, the Company, McEwen Copper, Minera Andes and Mr. McEwen are referred to as the “ McEwen Parties ”) and Stellantis entered into an Investor Rights Agreement, also dated February 23, 2023 (“ IRA ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- Material Agreements
  McEwen Inc. entered into Nuton LOI with Nuton LLC valued at 350,000 shares of McEwen Copper common stock for aggregate proceeds of $6,562,500 (effective 2023-02-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Nuton LLC
  - Value: 350,000 shares of McEwen Copper common stock for aggregate proceeds of $6,562,500
  - Effective: 2023-02-23
  source text: McEwen Copper entered into a binding term sheet with Nuton LLC, a current shareholder of McEwen Copper and subsidiary of Rio Tinto (“ Nuton ”), pursuant to which Nuton exercised its preemptive rights under an existing shareholder agreement and agreed to purchase 350,000 shares of McEwen Copper common stock directly from McEwen Copper for aggregate proceeds of $6,562,500 (the “ Nuton LOI ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- Material Agreements
  McEwen Inc. entered into Nuton Secondary LOI with Nuton LLC valued at 1,250,000 shares of McEwen Copper common stock for aggregate purchase price of $23,437,500 (effective 2023-02-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Nuton LLC
  - Value: 1,250,000 shares of McEwen Copper common stock for aggregate purchase price of $23,437,500
  - Effective: 2023-02-23
  source text: Nuton entered into a binding term sheet with the Company (the “ Nuton Secondary LOI ”) pursuant to which Nuton agreed to purchase 1,250,000 shares of McEwen Copper common stock from the Company through its subsidiary for an aggregate purchase price of $23,437,500
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- Material Agreements
  McEwen Inc. entered into Copper Purchase Option with Stellantis N.V. valued at Option to purchase copper cathodes and/or copper concentrates up to a maximum percentage equal to St (effective 2023-02-23).
  - Action: entry
  - Agreement: supply
  - Counterparty: Stellantis N.V.
  - Value: Option to purchase copper cathodes and/or copper concentrates up to a maximum percentage equal to St
  - Effective: 2023-02-23
  source text: Andes Corporación Minera S.A., a Company subsidiary and owner of the Los Azules project, entered into an Option Agreement with Stellantis that provides Stellantis the option to purchase copper cathodes and/or copper concentrates from the mine, if and when such mine reaches production (the “ Copper Purchase Option ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm
- Material Agreements
  McEwen Inc. entered into Private Placement Subscription Agreement with FCA Argentina S.A. (Stellantis N.V.) valued at 2,850,000 shares of McEwen Copper common stock for gross proceeds of ARS $20,854,490,614 (effective 2023-02-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: FCA Argentina S.A. (Stellantis N.V.)
  - Value: 2,850,000 shares of McEwen Copper common stock for gross proceeds of ARS $20,854,490,614
  - Effective: 2023-02-23
  source text: On February 23, 2023, McEwen Mining Inc. (the “ Company ”) and McEwen Copper Inc., a privately-held Alberta, Canada subsidiary of the Company (“ McEwen Copper ”), consummated agreements pursuant to which a single investor purchased 2,850,000 shares of McEwen Copper common stock from that entity for gross proceeds of ARS $20,854,490,614 (Argentine Pesos; $108,015,000 at a deemed ARS/USD exchange rate of 193.07) (the “ Stellantis Private Placement ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000110465923027443/0001104659-23-027443-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.