McEwen operates the Black Fox complex 40 km east of Timmins, Ont. (Image: McEwen Mining)
TORONTO – McEwen Mining is making a public offering of 37.75 million units, each at a price of US$1.325, to raise US$50 million. Each unit will consist of one share of common stock and one half of one warrant. Two warrants must be combined to purchase one additional common share at a price of US$1.7225. The warrants are exercisable immediately and for five years from their issuance.
McEwen has graded the underwriters a 30-day option to purchase up to approximately 5.66 million additional shares and/or additional 2.83 million warrants.
At the time of the public offering, the company’s biggest shareholder (22%) was Rob McEwen, chairman and chief owner of the company that bears his name.
A 360° tour of McEwen’s newest gold producer – Gold Bar – is available at www.McEwenMining.com.