McEwen Mining (NYSE: MUX) (TSX: MUX) has completed its previously announced offering of 5.25% convertible senior notes due 2030, raising $110 million, including a fully exercised $15 million option. The notes carry an initial conversion price of $11.25 per share, representing a 30% premium to the company’s Feb. 6 closing price, with a capped call potentially increasing the effective conversion price to $17.30. Proceeds will be used to partially repay $20 million of senior secured debt and fund corporate initiatives, including expanding gold production at the Fox Complex. Chairman Rob McEwen emphasized the financing’s low dilution risk and cost-effective structure.
To view the full press release, visit https://ibn.fm/JzQIJ
About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
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