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. This strategic move consolidates McEwen's position in the mining sector and provides it with full ownership of the Tartan project, which management believes offers strong exploration, development, and production restart potential.
The completion of this arrangement is significant for investors and the mining industry as it streamlines McEwen's asset base and enhances its growth prospects. Following the transaction, Canadian Gold is expected to be delisted from the TSX Venture Exchange and to seek to cease being a reporting issuer under applicable Canadian securities laws. This consolidation reduces administrative complexities and allows McEwen to focus resources on advancing key projects. The acquisition aligns with McEwen's strategy of building a diversified portfolio of precious and base metal assets in stable jurisdictions across the Americas.
McEwen's expanded portfolio now includes the Tartan project alongside its existing operations. The company provides shareholders with exposure to growing gold and silver production from mines located in the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Santa Cruz province, Argentina. Additionally, McEwen is considering reactivating a gold and silver mine in Mexico. The company maintains a 46.4% interest in McEwen Copper, which owns the 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 project represents a forward-looking investment in sustainable mining. Designed to be one of the world's first regenerative copper mines and carbon neutral by 2038, its Feasibility Study results were detailed in a press release dated October 7, 2025. This environmental commitment is increasingly important as global industries face pressure to reduce carbon footprints. Chairman and Chief Owner Rob McEwen, who has invested over US$200 million personally and takes a salary of $1 per year, aligns his interests with shareholders. His objective is to build McEwen's profitability, share value, and eventually implement a dividend policy.
For stakeholders, this transaction matters because it strengthens McEwen's operational and financial foundation. By integrating Canadian Gold's assets, McEwen can potentially accelerate development timelines and improve economies of scale. The move also reflects broader industry trends toward consolidation as companies seek to secure high-quality resources and optimize capital allocation. Investors can access the latest news and updates relating to MUX in the company's newsroom at https://ibn.fm/MUX. The completion of this business combination underscores McEwen's commitment to strategic growth and value creation in the competitive global mining sector.
