McEwen Mining closes $10M Nuton investment in McEwen Copper; ownership drops to 47.7%

McEwen Inc.

Nuton (Rio Tinto) purchased 152,615 shares in private placement ($4M to McEwen Copper) and 232,000 shares secondary ($6M to McEwen Mining).
Post-transaction: McEwen Mining owns 47.7% of McEwen Copper; Nuton owns 14.5%.
Amendment No. 2 to Nuton Collaboration Agreement extends exclusivity over copper heap leach tech until Feb 1, 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

McEwen Inc. entered into Subscription Agreement with Nuton LLC valued at purchase of 152,615 shares of McEwen Copper for approximately $4 million in proceeds (effective 2023-10-18).

Action: entry
Agreement: equity purchase
Counterparty: Nuton LLC
Value: purchase of 152,615 shares of McEwen Copper for approximately $4 million in proceeds
Effective: 2023-10-18

Exact text from the filing

McEwen Copper and Nuton entered into a definitive private placement subscription agreement (the “ Subscription Agreement ”) pursuant to which Nuton purchased 152,615 shares of McEwen Copper from McEwen Copper

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

McEwen Inc. entered into Share Purchase Agreement with Nuton LLC valued at purchase of 232,000 shares of McEwen Copper from the Company for approximately $6 million in proceed (effective 2023-10-18).

Action: entry
Agreement: equity purchase
Counterparty: Nuton LLC
Value: purchase of 232,000 shares of McEwen Copper from the Company for approximately $6 million in proceed
Effective: 2023-10-18

Exact text from the filing

the Company, Minera Andes Inc., a subsidiary of the Company, McEwen Copper and Nuton entered into a definitive share purchase agreement (the “Share Purchase Agreement”) pursuant to which Nuton purchased 232,000 shares of McEwen Copper from the Company in a secondary sale

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

McEwen Inc. amended Amendment No. 2 to Nuton Collaboration Agreement with Nuton LLC valued at amended to extend the period of exclusivity over novel, trade secret or patented copper heap leach t (effective 2023-10-18).

Action: amendment
Agreement: collaboration
Counterparty: Nuton LLC
Value: amended to extend the period of exclusivity over novel, trade secret or patented copper heap leach t
Effective: 2023-10-18

Exact text from the filing

McEwen Copper and certain of its affiliates entered into Amendment No. 2 to Nuton Collaboration Agreement, dated October 18, 2023, to amend the Nuton Collaboration Agreement, dated August 30, 2022, as amended by Amendment No. 1 to the Nuton Collaboration Agreement, dated March 9, 2023, to extend the period of exclusivity over novel, trade secret or patented copper heap leach technologies until February 1, 2025

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803 material agreements filed in the last 30 days. Browse all material agreements →

McEwen Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-111112

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