other material
confidence high
sentiment neutral
materiality 0.60
McEwen Mining and Chairman invest $19M in McEwen Copper private placement
McEwen Inc.
- McEwen Mining subsidiary Minera Andes purchased 466,667 McEwen Copper shares for $14M; Chairman Robert McEwen entity bought 166,666 shares for $5M.
- Part of a larger private placement seeking up to $70M (2,333,333 shares at $30 each) for McEwen Copper.
- Post-offering (fully subscribed), McEwen Mining's indirect ownership falls from 47.7% to 45.8%; McEwen's from 12.9% to 12.5%.
- Offering remains open to qualified accredited investors with a $2M minimum investment.