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McEwen Mining Inc Completes $60.4 Million Rights Offering-Canada Stockwatch News


Wednesday, 5 Dec 2012 10:44am EST 

Canada Stockwatch News reported that McEwen Mining Inc. has completed its rights offering, which closed on December 4, 2012. The rights offering was fully subscribed for with proceeds totallling $60.4-million. During the next week, McEwen Mining will issue 19,051,679 common shares (MUX) and 7,798,762 exchangeable shares (MAQ) as the result of the rights offering. This issuance represents 10% of the Company's currently issued and outstanding shares. Upon issuance of these shares, McEwen Mining will have 295,429,859 shares outstanding (common and exchangeable). The rights offering was fully subscribed for without triggering the backstop commitment the company had from Mr. McEwen. The number of common and exchangeable shares, including oversubscription shares, to be issued to each exercising holder, pursuant to the exercise of the rights offering, will be calculated after December 7, 2012. 

Company Quote

1.73
-0.03 -1.70%
21 Oct 2014