07:05 AM EDT, 07/28/2025 (MT Newswires) -- McEwen (MUX.TO) on Monday said it will buy Canadian Gold ( STRRF ) in an all-shares transaction.

A letter of intent has been signed by both parties which stipulates that each Canadian Gold ( STRRF ) share will be exchanged for 0.02 McEwan share, for an offer price of $0.35 per Canadian Gold ( STRRF ) share. Following the transaction, Canadian Gold ( STRRF ) shareholders will own 8.2% of the combined company.

Canadian Gold's ( STRRF ) principal asset is its 100% interest in the Tartan Mine in Manitoba, a high-grade former producing mine with existing infrastructure and high exploration potential. Canadian Gold ( STRRF ) also holds a 100% interest in greenfield exploration properties in the Hammond Reef and Malartic South projects, which are in Ontario and Quebec, respectively.

McEwan was last seen up US$0.13, to US$11.49, in New York pre-market trading.