McEwen Inc. to Acquire Canadian Gold in All-Stock Deal, Adding High-Grade Tartan Mine

McEwen Inc. (NYSE: MUX) (TSX: MUX) and Canadian Gold Corp. (TSX-V: CGC) have entered into a binding letter of intent for McEwen to acquire all outstanding securities of Canadian Gold in an all-stock deal. This transaction values Canadian Gold at an implied price of C$0.35 per share, offering a 26% premium to the 30-day VWAP. Post-acquisition, Canadian Gold shareholders will own approximately 8.2% of the combined entity. The deal highlights McEwen's strategic expansion through the addition of Canadian Gold's key asset, the Tartan Mine in Manitoba, known for its high-grade gold production, existing infrastructure, and exploration potential, alongside properties in Ontario and Quebec.

Rob McEwen, Chairman of McEwen Inc., emphasized the Tartan Mine's compatibility with the company's Fox Complex and the favorable mining jurisdiction of Manitoba as key factors in the acquisition. The move is expected to leverage McEwen's financial and technical resources to potentially restart production at the Tartan Mine within 24 to 36 months. Peter Shippen, Chairman of Canadian Gold, highlighted the transaction's benefits for shareholders, including enhanced liquidity and access to McEwen's expertise.

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