McEwen Completes the Acquisition of Canadian Gold Corp. Under a Statutory Plan of Arrangement

McEwen Inc. (NYSE:MUX) is one of the 9 Best Junior Gold Mining Stocks to Buy Now.

On January 6, McEwen Inc. (NYSE:MUX) completed its acquisition of Canadian Gold Corp. (CGC) under a statutory plan of arrangement, as previously announced. Under the agreed terms, each Canadian Gold share will convert into 0.0225 MUX common shares, consolidating CGC holders into MUX books. Whereas, Canadian Gold will be delisted from the TSX Venture on January 7, 2026.

Following the closing of the arrangement agreement on January 5, 2026, the arrangement grants McEwen control of the Tartan mine asset in Manitoba. The new management intends to expand and accelerate exploration and commence mining plans once it has full control over the asset. McEwen plans to report on the updated resource estimate for Tartan in February 2026 to redefine development goals. Rob McEwen, Chairman and Chief Owner, said:

We see strong exploration and development potential of Tartan, which we believe will significantly contribute to shareholder value. Our immediate priorities are to accelerate and expand the scope of exploration, initiate mine plan engineering, and advance production permitting to enable us to timely restart the mine. We also expect to publish an updated resource estimate by the end of February.

In other news, on December 16, McEwen Inc. (NYSE:MUX) reported that it received the extension of its Environmental Impact Assessment for the El Gallo Mine from the Mexican government. This approval now allows McEwen to initiate the Phase 1 Mill Construction. The company plans to begin the construction in mid-2026 and expects the first gold pour by mid-2027. McEwen has also acquired the ball mill located on site. Phase 1 is projected to produce around 20,000 Gold Equivalent Ounces annually following the start of commercial production.

McEwen Inc. (NYSE:MUX) is a development-stage gold and silver mining company focused on the exploration, development, and production of gold and silver deposits.

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Disclosure: None. This article is originally published at Insider Monkey.