InvestorNewsBreaks – McEwen Mining Inc.’s (NYSE: MUX) (TSX: MUX) McEwen Copper Announces ARS$42B Stellantis and US$10M Nuton Investments

McEwen Mining Inc.’s (NYSE: MUX) (TSX: MUX) subsidiary, McEwen Copper Inc., has announced the closing of an additional ARS $42 billion investment by Stellantis N.V., one of the world’s leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep(R), Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall, Free2Move and Leasys. Stellantis, which in February 2023 invested ARS$30 billion, has invested an additional ARS$42 billion in Argentina to acquire shares of McEwen Copper in a private placement of 1,900,000 common shares. McEwen Copper will use the proceeds of the private placement to advance development of the Los Azules copper project in San Juan, Argentina, as well as for general corporate purposes.

In addition, McEwen Copper announced its entry into a binding agreement for an additional $10.0 million investment by Nuton LLC, a Rio Tinto Venture and existing McEwen Copper shareholder. Nuton has agreed to invest US$10.0 million to acquire shares of McEwen Copper in a two-part transaction expected to close by Oct. 19, 2023, consisting of a private placement of 152,615 McEwen Copper common shares, and the purchase of 232,000 common shares owned by McEwen Mining in a secondary sale. Subscription and purchase proceeds are expected to be approximately $4.0 million to McEwen Copper and $6.0 million to McEwen Mining, respectively.

To view the full press releases, visit https://ibn.fm/btth8 and https://ibn.fm/yODEu

About McEwen Mining Inc.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 47.7% of McEwen Copper, which owns 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 its share price and providing a yield. Its chairman and chief owner has personally provided the company with $220 million and takes an annual salary of $1. For more information about the company, visit www.McEwenMining.com.

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer

InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com

InvestorWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.