McEwen Mining and Canadian Gold have entered into a binding letter of intent, whereby McEwen would acquire the latter by way of a plan of arrangement. If the transaction is completed, Canadian Gold would become a wholly-owned subsidiary of McEwen. McEwen officials note the addition of the Tartan mine in Manitoba as one of the benefits of the deal. “I…
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McEwen Mining acquires remaining Timberline stock
Canadian miner McEwen Mining has entered into a definitive agreement and plan of merger to acquire all outstanding shares of Nevada-based Timberline Resources that it doesn’t already own. McEwen Mining currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants. Excluding McEwen’s existing ownership, the miner expects to issue approximately 1.84 million shares…
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