McEwen Inc. and Canadian Gold Corp. have completed their previously disclosed business combination by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the arm's-length arrangement, each Canadian Gold common share was exchanged for 0.0225 shares of McEwen common stock, following shareholder approval on Dec. 5, 2025, and final court approval by the Supreme Court of British Columbia. As a result of the transaction, Canadian Gold is expected to be delisted from the TSX Venture Exchange and to seek to cease being a reporting issuer under applicable Canadian securities laws. The completion of this acquisition provides McEwen with full ownership of the Tartan project, which management believes offers strong exploration, development, and production restart potential.
This strategic move enhances McEwen's portfolio of assets in the Americas, which includes gold and silver production operations in prolific mineral-rich regions such as the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico, further expanding its operational footprint. The company maintains a 46.4% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million. The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025, available at https://ibn.fm/MUX.
Chairman and Chief Owner Rob McEwen has invested over US$200 million personally and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX's profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc. The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX. This transaction represents a significant consolidation within the mining sector, positioning McEwen to leverage the Tartan project's potential while strengthening its overall asset base across precious and base metals. The acquisition underscores McEwen's strategy to expand its resource base and operational capabilities in key mining jurisdictions, potentially enhancing its competitive position and long-term growth prospects in the global mining industry.
