Loading ...Canadian precious metals producer McEwen Mining (TSX, NYSE:MUX) announced after the close on Monday, bought deal financing for its acquisition of the Black Fox mining complex in northern Ontario.
According to a statement McEwen agreed to sell 18m shares of its common stock and warrants to purchase up to 9m shares of its common stock at a price of $2.25 per share and associated one-half common stock warrant for gross proceeds of $40.5 million. The warrants will have a term of 53 weeks and an exercise price of $2.70 per whole share. The underwriters also have a 30-day option to buy an additional 2.7m shares and 1.35m warrants.
more http://www.mining.com/mcewen-shares-crater-40m-stock-offer/