McEwen Mining Inc. announced on October 21, 2024, its agreement to participate in a non-brokered private placement by Inventus Mining Corp. McEwen Mining committed to purchasing 10,000,000 units of Inventus at a price of $0.04 per unit, totaling $400,000 in gross proceeds.
Each unit in the offering consists of one common share and one common share purchase warrant of Inventus Mining. The proceeds from this offering are earmarked by Inventus to advance exploration and resource estimation at its Pardo Paleoplacer Gold Project, as well as for general corporate purposes.
This strategic investment by McEwen Mining signals its interest in Inventus' Pardo Gold Project, which is focused on the Sudbury, Ontario mining district. The transaction is subject to all required corporate and regulatory approvals, including that of the TSX Venture Exchange.
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