McEwen Mining Announces Closing of US$50 Million Public Offering

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TORONTO, Nov. 22, 2019 (GLOBE NEWSWIRE) — McEwen Mining Inc. (the “Company” or “McEwen”) (NYSE: MUX) (TSX: MUX) is pleased to announce that it has closed the previously announced underwritten public offering of 37,750,000 units, each unit consisting of one share of common stock and one half of one warrant to purchase one share of common stock, at a public offering price of $1.325 per unit for aggregate gross proceeds of approximately US$50,000,000. Each full warrant is exercisable for one share of common stock with an exercise price of $1.7225 per share and are exercisable immediately and for five years following issuance. The Company has granted to the underwriters a 30-day option to purchase up to an additional 5,662,500 shares of common stock and/or additional warrants to purchase up to 2,831,250 shares of common stock at the public offering price per share and per warrant, less the underwriting discounts and commissions. On November 21, 2019, the underwriters exercised their option to purchase the additional warrants in full, which were issued at the closing.

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