Canada’s McEwen Mining to raise up to $90 mln in share offering

Canadian gold and silver exploration and development company McEwen Mining Inc. plans to secure up to $90 million in a common share offering.

The company intends to use the net proceeds of this offering to fund working capital and for general corporate purposes.

McEwen said that it agreed with an underwriting group that includes UBS Securities, LLC, BMO Capital Markets Corp., Cantor Fitzgerald & Co., Roth Capital Partners LLC, Wainwright & Co., LLC and Alliance Global Partners in connection with the offering.

McEwen is planning an offering of up to 47.8 million shares, assuming a sales price of $1.88, the closing price of the shares on the New York Stock Exchange on November 7, 2018. The company said the offering is being made only in the U.S.