BillionDollarBreaks – McEwen Inc. (NYSE: MUX) (TSX: MUX) Announces $240 Million Financing to Advance Los Azules Copper Project
This article has been disseminated on behalf of McEwen Inc. and may include paid advertising. McEwen (NYSE: MUX) (TSX: MUX) announced that its 46.3%-owned subsidiary McEwen Copper Inc. has closed a $240 million senior secured four-year term loan facility to advance engineering and early works at the Los Azules copper project in San Juan, Argentina and for general corporate purposes. Participants include Sprott Natural Resource Investment Partners for $112 million, McEwen Chairman and Chief Owner Rob McEwen for $85 million and other lenders for $43 million. The loan bears interest at 12% annually and provides funding as McEwen Copper works toward a final…