10:27 AM EDT, 06/14/2024 (MT Newswires) -- McEwen Mining ( MUX ) said Friday it has closed the $22 million public financing to fund ongoing exploration activities at the Fox Complex in the Timmins region of Ontario.

The company said it will use proceeds from the financing for eligible Canadian Exploration Expenses and Canadian Development Expenses.

The offering comprised 1.5 million "flow-through" common shares at $14.36, totaling $22 million in gross proceeds, while net proceeds, after deducting placement agents' fees, amounted to around $20.8 million, the company said.

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