McEwen Mining (NYSE:MUX) and Canadian Gold Corp. completed their statutory plan of arrangement effective January 5, 2026, officially consolidating the high-grade Tartan Gold Mine into McEwen’s portfolio.
The merger, finalized at 8:00 a.m. Vancouver time, marks a strategic expansion for McEwen as it targets a doubling of its total production by 2030.
Under the terms of the agreement, Canadian Gold shareholders will receive 0.0225 McEwen shares for each share held.
This exchange represents a significant premium over Canadian Gold's historical trading price and provides its investors with exposure to McEwen’s broader asset base in Nevada, Ontario, and Argentina.
Canadian Gold shares are scheduled to be delisted from the TSX Venture Exchange at the close of market on January 7, 2026, after which the company will cease to be a reporting issuer.
A unique component of the deal involves an Amending Agreement regarding the holdings of Chairman Rob McEwen.
To comply with NYSE ownership rules, Mr. McEwen’s Canadian Gold shares were converted into subscription receipts rather than immediate common shares.
These receipts will convert to McEwen shares only upon approval at the next annual shareholder meeting; failing that, they will be satisfied in cash.
With the deal closed, McEwen plans to aggressively advance the Tartan Mine in Manitoba, with an updated resource estimate expected by late February 2026.