McEwen Mining Enters Material Definitive Agreement

TL;DR

McEwen Mining signed a big deal, filing shows. Details to come.

AI Summary

McEwen Mining Inc. announced on June 14, 2024, the entry into a material definitive agreement. The filing also includes Regulation FD disclosures and financial statements and exhibits. The company is incorporated in Colorado and its principal executive offices are located in Toronto, Canada.

Why It Matters

This filing indicates a significant new agreement for McEwen Mining, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can carry inherent risks related to the terms, counterparty, and execution of the agreement.

Key Players & Entities

• McEwen Mining Inc. (company) — Registrant
• June 14, 2024 (date) — Date of earliest event reported
• Colorado (jurisdiction) — State of incorporation
• Toronto, Ontario, Canada (location) — Address of principal executive offices

FAQ

Key Financial Figures

• $15.56 — w-through common shares at a price of US$15.56 per share and the issuance and sale of
• $13.49 — w-through common shares at a price of US$13.49 per share. The Offering closed on June
• $20.8 million — cting placement fees were approximately $20.8 million. The sale of Shares was made through a

Filing Documents

• ny20029030x6_8k.htm (8-K) — 28KB
• ny20029030x6_ex5-1.htm (EX-5.1) — 9KB
• ny20029030x6_ex10-1.htm (EX-10.1) — 134KB
• ny20029030x6_ex10-2.htm (EX-10.2) — 154KB
• ny20029030x6_ex99-1.htm (EX-99.1) — 14KB
• ny20029030x6_ex5-1img01.jpg (GRAPHIC) — 587KB
• ny20029030x6_ex99-1img01.jpg (GRAPHIC) — 1024KB
• ny20029030x6_ex99-1img02.jpg (GRAPHIC) — 650KB
• ny20029030x6_ex99-1img03.jpg (GRAPHIC) — 124KB
• ny20029030x6_ex99-1img04.jpg (GRAPHIC) — 645KB
• 0001140361-24-030122.txt ( ) — 4692KB
• mux-20240614.xsd (EX-101.SCH) — 4KB
• mux-20240614_lab.xml (EX-101.LAB) — 21KB
• mux-20240614_pre.xml (EX-101.PRE) — 16KB
• ny20029030x6_8k_htm.xml (XML) — 4KB

01 Entry

Item 1.01 Entry into a Material Definitive Agreement. On June 14, 2024, McEwen Mining Inc. (the "Company") entered into definitive agreements for the purchase and sale of 1,533,000 shares of common stock, no par value, of the Company (the "Shares," and such transaction, the "Offering"). The Shares sold in the Offering are considered "flow-through" common shares for purposes of the Income Tax Act (Canada) in that they provide potential tax benefits to the purchasers if the Company uses the proceeds of the Offering for qualified exploration or development expenses. The Offering comprised the issuance and sale of 643,000 "Canadian Exploration Expense" flow-through common shares at a price of US$15.56 per share and the issuance and sale of 890,000 "Canadian Development Expense" flow-through common shares at a price of US$13.49 per share. The Offering closed on June 14, 2024. Proceeds to the Company after deducting placement fees were approximately $20.8 million. The sale of Shares was made through a Canadian Exploration Expense Subscription and Renunciation Agreement and a Canadian Development Expense Subscription and Renunciation Agreement, each dated June 14, 2024 (together, the "Subscription and Renunciation Agreements") between the Company and the agent for the subscribers named therein. The Shares were offered and sold pursuant to the Company's existing shelf registration statement on Form S-3 (File No. 333-275324), which was initially filed with the Securities and Exchange Commission (the "SEC") on November 3, 2023, amended on December 11, 2023 and declared effective by the SEC on January 2, 2024. The Company has filed a prospectus supplement, dated May 28, 2024, with the SEC in connection with the Offering. The Subscription and Renunciation Agreements contain customary representations and warranties, covenants, conditions to closing and indemnification provisions that the parties made to, and solely for the benefit of, each other in the context of all of the

01 Regulation

Item 7.01 Regulation FD Disclosure. On June 14, 2024, the Company issued a press release announcing the closing of the Offering. A copy of the press release is furnished herewith as Exhibit 99.1 . The information furnished under this Item 7.01, including the press release, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.

01 Financial

Item 9.01 Financial (d) Exhibits. Exhibit No. Description 5.1 Opinion of Hogan Lovells US LLP. 10.1 Form of Canadian Exploration Expense Subscription and Renunciation Agreement. 10.2 Form of Canadian Development Expense Subscription and Renunciation Agreement. 23.1 Consent of Hogan Lovells US LLP (included in Exhibit 5.1). 99.1 Press release dated June 14, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized. McEWEN MINING INC. Date: June 14, 2024 By: /s/ Carmen Diges Carmen Diges, General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR