McEwen Mining closes $16.1M flow-through financing; Q4 production rises to 29,600 GEOs in Oct-Nov

McEwen Inc.

Issued 1,903,000 flow-through common shares for gross proceeds of US$16.1M (Cdn$22M) for Canadian exploration and development.
October-November consolidated production improved to 29,600 gold equivalent ounces (GEOs), with Gold Bar reaching 7,800 oz in November.
Full-year 2023 GEO forecast revised to 154,200 (within guidance of 150,000-170,000), up from 135,300 for 11-month YTD.
Proceeds dedicated to qualifying CEE/CDE expenditures on Timmins region properties, strengthening financial position into 2024.
Los Azules copper project drilling continues with 18 rigs on site and over 18,000 meters completed this season.

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 Agency Agreement with Cantor Fitzgerald Canada Corporation and Roth Capital Partners, LLC valued at $16.1 million gross proceeds from private placement of 1,903,000 shares of common stock (effective 2023-12-14).

Action: entry
Agreement: equity purchase
Counterparty: Cantor Fitzgerald Canada Corporation and Roth Capital Partners, LLC
Value: $16.1 million gross proceeds from private placement of 1,903,000 shares of common stock
Effective: 2023-12-14

Exact text from the filing

On December 14, 2023, McEwen Mining Inc. (the “Company”) entered into an Agency Agreement (the “Agency Agreement”) with Cantor Fitzgerald Canada Corporation and Roth Capital Partners, LLC, as co-lead managers (“Co-Lead Managers”), relating to a private placement (the “Offering”) of 1,903,000 shares of the Company’s common stock (the “Common Stock”).

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McEwen Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-126402

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