McEwen Mining announces additional $35M investment by Nuton

McEwen Copper, a subsidiary of McEwen Mining (MUX), announces closing of an additional $35 million investment by Nuton, a Rio Tinto (RIO) Venture. McEwen Copper previously announced a non-brokered private placement financing of up to 2,333,333 common shares at a subscription price of US$30.00 per common share, for gross proceeds of up to US$70 million. The first tranche of the Offering was led by a $14 million investment by McEwen Mining and a $5 million investment by Rob McEwen. In this second tranche of the Offering, Nuton has purchased an additional 1,166,666 common shares of McEwen Copper for $35 million and two other investors have acquired 66,669 common shares for $2 million. Following the closing of this second tranche of the Offering, McEwen Copper has raised a total of $56 million.