McEwen Inc. (NYSE: MUX) (TSX: MUX) has completed its business combination with Canadian Gold Corp. through a statutory plan of arrangement under the Business Corporations Act (British Columbia). 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.
As a result of this acquisition, Canadian Gold is expected to be delisted from the TSX Venture Exchange and will seek to cease being a reporting issuer under applicable Canadian securities laws. The most significant outcome for McEwen is gaining full ownership of the Tartan project, which management believes offers strong exploration, development, and production restart potential. This strategic move enhances McEwen's position in the mining sector by adding another promising asset to its portfolio.
McEwen provides its shareholders with exposure to a growing base of gold and silver production across the Americas, with operations in the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Santa Cruz province, Argentina. The company is also considering reactivating a gold and silver mine in Mexico. Beyond precious metals, McEwen holds a 46.4% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.
The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025. This environmental focus aligns with growing industry trends toward sustainable mining practices, potentially positioning McEwen favorably with environmentally conscious investors and regulatory bodies.
Chairman and Chief Owner Rob McEwen has invested over US$200 million personally in the company and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build McEwen's profitability, share value, and eventually implement a dividend policy, as he did while building Goldcorp Inc. This leadership approach provides stability and confidence to investors concerned about executive compensation alignment with company performance.
The latest news and updates relating to McEwen are available in the company's newsroom at https://ibn.fm/MUX. For business leaders and technology investors monitoring the mining sector, this acquisition represents a consolidation play that strengthens McEwen's asset base while potentially creating operational synergies across its North American properties. The Tartan project's development could contribute to McEwen's production growth, while the company's diversified portfolio across gold, silver, and copper provides exposure to multiple commodity cycles, reducing single-metal risk in an increasingly volatile global market.
