McEwen Inc. seeks to acquire Canadian Gold
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A Toronto-based company led by a Canadian Mining Hall of Fame veteran is seeking to buy a firm currently exploring a former Manitoba gold mine.
McEwen Inc. signed a letter of intent to acquire Canadian Gold Corp.
The latter, located in Flin Flon, holds 100 per cent interest in the Tartan Mine — a site near Flin Flon that produced 47,000 ounces of gold in 1987-89.
Canadian Gold Corp. recently expanded its strike length of Tartan from eight kilometres to 29.5 km. It’s been exploring the mine since 2023.
The two companies signed the letter of intent July 27. The deal must receive approval from a majority of Canadian Gold shareholders; a special meeting is expected before 2026.
McEwen Inc. has three gold mines in the U.S., Canada and Argentina. It’s aiming to make an Argentina copper project one of the world’s first regenerative copper mines. Rob McEwen, a mining hall of famer, leads the company.
If approved, Canadian Gold shareholders will receive 0.0225 of a McEwen common share for each they hold.
— Free Press staff