McEwen Inc. and Canadian Gold Corp. have entered into a definitive agreement for McEwen to acquire all issued and outstanding shares of Canadian Gold in an all-share transaction valued at C$0.60 per share. This represents a substantial 96.7% premium to Canadian Gold's prior closing price, signaling strong confidence in the strategic value of the acquisition. The transaction is expected to be completed in early January 2026, after which Canadian Gold will become a wholly owned subsidiary of McEwen.
The acquisition significantly enhances McEwen's growth profile by adding the high-grade Tartan Lake Gold Mine Project in Manitoba to its development pipeline. This strategic move provides McEwen shareholders with exposure to a diversified portfolio of producing assets and development projects while creating operational synergies across the combined entity. The Tartan Lake project represents a valuable addition to McEwen's existing portfolio of mining assets across the Americas.
McEwen Inc. provides its shareholders with exposure to a growing base of gold and silver production in addition to a substantial copper development project. The company's current operations include gold and silver mines located in prolific mineral-rich regions, including the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada, and the Deseado Massif in Santa Cruz province, Argentina. The company is also considering reactivating a gold and silver mine in Mexico, further expanding its operational footprint.
A significant component of McEwen's portfolio is its 46.4% interest in the Los Azules copper development project in San Juan province, Argentina. This advanced-stage project is designed to be one of the world's first regenerative copper mines and aims to achieve carbon neutrality by 2038. The Los Azules project represents a long-life copper development opportunity in a region that hosts some of Argentina's largest copper deposits, positioning McEwen for future growth in the copper sector.
Rob McEwen, Chairman and Chief Owner of McEwen Inc., has demonstrated strong alignment with shareholder interests through his personal investment approach. With a personal cost basis exceeding $200 million in the company and an annual salary of only $1, his financial interests are closely tied to the company's performance and shareholder value creation. The strategic objective behind this acquisition and McEwen's broader corporate strategy focuses on building profitability, increasing share value, and eventually implementing a dividend policy. This approach mirrors the successful strategy McEwen employed while building Goldcorp Inc., where he demonstrated his capability to create substantial shareholder value in the mining sector. The latest news and updates relating to McEwen Inc. are available in the company's newsroom at https://ibn.fm/MUX.
