06:49 AM EDT, 10/14/2025 (MT Newswires) -- McEwen (MUX.TO) and Canadian Gold ( STRRF ) Tuesday announced an agreement under which McEwen will acquire all of Canadian Gold's ( STRRF ) issued and outstanding common shares.

Upon receipt of approvals from Canadian Gold ( STRRF ) shareholders and the Supreme Court of British Columbia, Canadian Gold ( STRRF ) will become a subsidiary of McEwen.

Under the agreement, each Canadian Gold ( STRRF ) common shareholder will receive 0.0225 McEwen common shares for each Canadian Gold ( STRRF ) share held.

The exchange ratio represents a current offer price of $0.60 per Canadian Gold ( STRRF ) share, representing a 96.7% premium over the closing price of the Canadian Gold ( STRRF ) shares on the trading day immediately prior to the public announcement of the letter of intent relating to the deal.

At deal completion, McEwen shareholders will own about 92% and Canadian Gold ( STRRF ) shareholders will own about 8% of McEwen. McEwen will continue trading under the name McEwen Inc. ( MUX ) on the New York Stock Exchange and the Toronto Stock Exchange under the symbol MUX.

Canadian Gold's ( STRRF ) principal asset is its 100% stake in the Tartan Lake gold mine project in Manitoba. The Tartan Mine is a high-grade gold project and a former producing site with existing infrastructure and strong exploration potential.

The deal is scheduled to close in early January 2026.

McEwen's share price at last look lost 0.3% to $20.25 in U.S. pre-market trading Tuesday.