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McEwen Mining Launches Registered Direct Offering, Says Fox Complex Growth Funding Secure

· 02/05/2021 04:55

09:48 AM EST, 02/05/2021 (MT Newswires) -- McEwen Mining (MUX) has launched an oversubscribed registered direct offering with existing and new institutional investors for an aggregate of 30 million shares of common stock at $1.05 per share.

The company said the offering completes the funding required to bring the Froome deposit into production later this year. Froome is the company's production bridge to the future growth of the Fox Complex. It will also strengthen the company's balance sheet and working capital position. The offering is expected to close Feb. 9.

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