McEwen to Acquire Canadian Gold in All-Share Deal Valuing Canadian Gold at 96.7% Premium

McEwen Mining has agreed to acquire Canadian Gold in an all-share deal, valuing Canadian Gold at a 96.7% premium over its pre-announcement trading price. The acquisition strengthens McEwen's Canadian project portfolio with Canadian Gold's flagship asset, the Tartan Lake gold mine project in Manitoba. The deal will see Canadian Gold shareholders receive 0.0225 McEwen shares for each Canadian Gold share held, with existing McEwen shareholders owning approximately 92% of the combined company.

McEwen Mining (MUX.TO) has agreed to acquire Canadian Gold (CGC.V) in an all-share deal, valuing Canadian Gold at a 96.7% premium over its pre-announcement trading price. The acquisition strengthens McEwen's Canadian project portfolio with Canadian Gold's flagship asset, the Tartan Lake gold mine project in Manitoba. The deal will see Canadian Gold shareholders receive 0.0225 McEwen shares for each Canadian Gold share held, with existing McEwen shareholders owning approximately 92% of the combined company, according to Yahoo Finance.

Upon receipt of approvals from Canadian Gold shareholders and the Supreme Court of British Columbia, Canadian Gold will become a subsidiary of McEwen. The exchange ratio represents a current offer price of $0.60 per Canadian Gold share, which is a significant premium over the closing price of the Canadian Gold shares on the trading day immediately prior to the public announcement of the letter of intent relating to the deal, per Seeking Alpha.

The Tartan Lake mine, a high-grade gold project with existing infrastructure and strong exploration potential, aligns with McEwen's Fox Complex in terms of mining method and proposed process plant design. This acquisition is expected to leverage McEwen's internal skills and expertise, potentially leading to the development of the Tartan Lake mine, according to GuruFocus.

McEwen's share price surged 8% to $28.62 on the Toronto Stock Exchange following the announcement of the deal. The acquisition is scheduled to close in early January 2026. McEwen will continue trading under the name McEwen Inc. on the New York Stock Exchange and the Toronto Stock Exchange under the symbol MUX, as reported by Yahoo Finance.