McEwen Mining will purchase up to 466,667 shares of McEwen Copper for $14M and Rob McEwen will purchase up to 166,666 shares for $5M.
The proceeds will be used to advance work on a bankable feasibility study for the Los Azules copper project, which is scheduled for publication by the end of the Q1 2025.
Prior to the offering, McEwen Mining owned 47.7% in McEwen and Rob McEwen owned 12.9%.
McEwen Copper currently has ~30.94M shares outstanding.