McEwen Inc. (MUX): debt financing — McEwen Copper gets $25M insider loan at 12%; executive RSU grants awarded

McEwen Inc.

McEwen Copper (46.4% owned by MUX) received $25M loan from Evanachan Ltd, an affiliate of Chairman Robert McEwen, at 12% annual interest.
Loan matures June 27, 2026; proceeds for working capital and feasibility study costs for Los Azules and Elder Creek copper projects.
McEwen Mining is not a guarantor; McEwen Copper prohibited from paying distributions until loan is repaid.
Executive officers granted RSUs: William Shaver 35,220, Perry Ing 14,220, Carmen Diges 10,110, vesting in three equal installments through June 29, 2026.
New forms of RSU and RSA agreements adopted under 2024 Equity and Incentive Plan.

item 1.01 item 2.03 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

McEwen Inc. incurred term loan of $25 million with Evanachan Limited at 12% per year maturing June 27, 2026.

Instrument: term loan
Principal: $25 million
Counterparty: Evanachan Limited
Rate: 12% per year
Maturity: June 27, 2026
Event: incurrence

Exact text from the filing

The Loan Agreement established a non-revolving term loan for the benefit of McEwen Copper in an amount agreed to from time to time between the parties to the Loan Agreement, including any additional lenders from time to time party to the Loan Agreement, with an initial loan amount of $25 million as of the closing date of the Loan Agreement. The loan will be used for general working capital and funding feasibility study costs. The loan represented by the Loan Agreement bears interest at the rate of 12% per year with interest payments due monthly in arrears. The maturity date of the loan is June 27, 2026, the date of the first anniversary of the closing date.

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McEwen Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-065818

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