McEwen Mining Announces Flow-Through Financing – QNT Press Release

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TORONTO, Feb. 11, 2022 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce a financing to fund continued exploration at the Fox Complex in the Timmins region of Ontario. These funds will be employed to build on the business case outlined in our recently announced preliminary economic assessment (see news release dated January 26, 2022) .

The financing consists of a US$15,080,000 (Cdn$19,212,500) private placement offering (the “Offering”) of 14,500,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.04 (Cdn$1.325) per flow-through common share (the “Offering Price”). The Offering is expected to close on March 1, 2022 (the “Closing”) and is subject to customary closing conditions, including approval from the TSX and NYSE .

The proceeds of this Offering will be used exclusively for qualifying Canadian Exploration Expenditures (CEE) on McEwen’s properties in the Timmins region.

This press release is not an offer of common shares for sale in the United States. The common shares may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the US. Securities Act of 1933, as amended (the “US Securities Act”) and applicable US state securities laws. McEwen will not make any public offering of the securities in the United States. The common shares have not been and will not be registered under the US Securities Act, or any state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall …

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