McEwen Inc. (NYSE: MUX) (TSX: MUX) has completed its acquisition of Canadian Gold Corp. through a statutory plan of arrangement under British Columbia law. The transaction, which received shareholder approval on December 5, 2025, and final court approval from the Supreme Court of British Columbia, involved exchanging each Canadian Gold common share for 0.0225 shares of McEwen common stock. This strategic move is significant as it consolidates McEwen's position in the mining sector by adding the Tartan project to its asset base, which management believes holds strong potential for exploration, development, and production restart.
The completion of this business combination means Canadian Gold is expected to be delisted from the TSX Venture Exchange and will seek to cease being a reporting issuer under Canadian securities laws. For McEwen, the acquisition enhances its portfolio, which already includes gold and silver production assets in Nevada, Ontario, and Argentina, as well as a large copper development project. The company is also considering reactivating a gold and silver mine in Mexico, further expanding its operational footprint. The full details of the acquisition are available in the press release at https://ibn.fm/u1trt.
McEwen's broader strategy includes a 46.4% interest in McEwen Copper, which owns the Los Azules copper development project in Argentina. According to the last financing round, McEwen's stake in this project is valued at approximately US$456 million. The Los Azules project is notable for its design as one of the world's first regenerative copper mines, aiming for carbon neutrality by 2038. Feasibility study results for this project were announced in a press release dated October 7, 2025, highlighting its potential as a long-life, advanced-stage asset in a region rich with copper deposits.
Chairman and Chief Owner Rob McEwen, who has personally invested over US$200 million into the company and takes a symbolic salary of $1 per year, aligns his interests with shareholders. His leadership, recognized through awards such as the Order of Canada and membership in the Canadian Mining Hall of Fame, focuses on building profitability and share value, with eventual plans for a dividend policy. This acquisition underscores McEwen's commitment to growth in the mining industry, leveraging assets like the Tartan project to drive future returns. For ongoing updates, investors can refer to the company's newsroom at https://ibn.fm/MUX.
