McEwen Mining Acquires Canadian Gold in All-Stock Deal

McEwen Mining Inc. has agreed to acquire Canadian Gold in an all-stock deal. The transaction involves the exchange of McEwen Mining shares for Canadian Gold shares. McEwen Mining is a gold and silver producer with operations in Canada, the US, Mexico, and Argentina. The acquisition is expected to strengthen McEwen Mining's position in the gold and silver market.

McEwen Mining Inc. has agreed to acquire all the shares of Canadian Gold in an all-stock deal, marking a significant move to bolster its position in the gold and silver market. The transaction involves the exchange of McEwen Mining shares for Canadian Gold shares, with each Canadian Gold shareholder receiving 0.0225 McEwen common shares, representing a 96.7% premium over the closing price of Canadian Gold shares McEwen Agrees to Acquire Canadian Gold^[1].

The acquisition is set to close in early January, with existing McEwen and Canadian Gold shareholders owning approximately 92% and 8% of McEwen, respectively, on both an outstanding shares and fully diluted basis. Canadian Gold's main asset is the Tartan Lake Gold Mine Project in Manitoba, a high-grade gold project with existing infrastructure and significant exploration potential.

McEwen Mining, with operations in Canada, the US, Mexico, and Argentina, aims to leverage Canadian Gold's assets to strengthen its market presence. This strategic move follows McEwen's release of a positive feasibility study for the Los Azules copper, gold, and silver project in San Juan, Argentina, which further underscores its commitment to diversifying its portfolio TNR Gold highlights strong project economics in Los Azules Feasibility Study^[2].

The acquisition of Canadian Gold aligns with McEwen's strategy to expand its operations and increase its gold and silver production. The integration of Canadian Gold's assets is expected to enhance McEwen's overall market standing and contribute to its long-term growth prospects.