McEwen Inc. Announces Strategic Acquisition of Canadian Gold Corp.

McEwen Inc. (NYSE: MUX) (TSX: MUX) has solidified its position in the mining industry by entering into a binding letter of intent to acquire Canadian Gold Corp. (TSX-V: CGC) in an all-stock transaction. This deal offers Canadian Gold shareholders a 26% premium based on the 30-day volume-weighted average price (VWAP), underscoring the strategic value McEwen places on this acquisition. The inclusion of the high-grade Tartan Mine in Manitoba, alongside properties in Ontario and Quebec, is poised to significantly bolster McEwen's asset base, with potential production restart within 24 to 36 months.

The transaction, valued at an implied price of C$0.35 per share, will see Canadian Gold shareholders owning approximately 8.2% of the combined entity. Rob McEwen, Chairman of McEwen Inc., pointed to the Tartan Mine's operational similarities to the company's Fox Complex and the mining-friendly jurisdiction of Manitoba as pivotal to the deal's appeal. Peter Shippen, Chairman of Canadian Gold Corp., highlighted the transaction's advantages, including improved liquidity and access to McEwen's extensive financial and technical resources, which are expected to accelerate the development of Canadian Gold's assets.

This acquisition marks a significant step for McEwen Inc. as it continues to expand its footprint in the mining sector. The deal not only enhances McEwen's portfolio with high-quality assets but also demonstrates the company's commitment to growth through strategic acquisitions. For the mining industry, this transaction signals continued consolidation and investment in high-potential mining projects, particularly in jurisdictions known for their favorable mining policies.

For further details on the acquisition, visit https://ibn.fm/xw04x.