Canadian mining and minerals production and exploration company McEwen Mining Inc. is expecting to raise $25 million in a registered direct offering.
Each unit is priced at $1.55 and comprises a share of common stock and one-half of a warrant to purchase common stock.
The company plans to use the net proceeds to fully finance its current mining projects and exploration prospects, for additional operating capital as well as general working capital purposes.
The transaction, subject to customary closing conditions, is expected to be finalized on March 29, 2019.