McEwen Inc. announced on July 28, 2025, that it has entered into a binding Letter of Intent (LOI) to acquire all issued and outstanding securities of Canadian Gold Corp. through a plan of arrangement. If completed, Canadian Gold would become a wholly-owned subsidiary of McEwen.
Under the terms of the Proposed Transaction, each Canadian Gold common share would entitle its holder to receive 0.0225 of a McEwen common share. This exchange ratio represents an offer price of CDN $0.35 per Canadian Gold Share, which is a 26% premium to the 30-day volume weighted average price as of July 25, 2025.
Canadian Gold's primary asset is its 100% interest in the Tartan Mine in Manitoba, Canada, a high-grade former producing mine with existing infrastructure and strong exploration potential. This acquisition is expected to benefit McEwen shareholders by adding a high-grade gold deposit in a premier mining jurisdiction, allowing the company to leverage its internal expertise and resources.
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