McEwen Inc 8-K, filed Oct 1, 2020
McEwen Inc. (MUX)
About this 8-K
McEwen Inc filed this 8-K on October 1, 2020, reporting on events of September 29, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 29, 2020, McEwen Mining Inc. (the “Company”) appointed Anna Ladd-Kruger as its Chief Financial Officer, effective immediately. In that position, Ms. Ladd-Kruger will be responsible for the duties traditionally associated with the role of a principal financial officer.
Ms. Ladd-Kruger, age 50, is a Chartered Professional Accountant and Certified Management Acccountant in Canada and has a long history in the mining industry. From June 2019 to September 2020, she was Chief Financial Officer and Vice President of Corporate Development at Excellon Resources Inc., an Ontario corporation that mines silver, lead and zinc in Mexico. The shares of Excellon are listed on the Toronto Stock Exchange (“TSX”) and the NYSE American. From April 2011 to May 2017, she was the Chief Financial Officer of Trevali Mining Corporation, a British Columbia corporation mining base metals on a global scale. The shares of Trevali are also traded on the TSX. Prior to her position at Trevali, Ms. Ladd-Kruger served as Chief Financial Officer for a number of other publicly-traded Canadian mining companies. Ms. Ladd-Kruger will continue to serve on the Board of Directors and as the Chair of the Audit Committee of Integra Resources Corp., an Ontario corporation with its shares traded on the TSX Venture Exchange, and on the Board of Excellon.
Ms. Ladd-Kruger holds a Master of Economics Degree from Queen’s University in Kingston, Ontario and a Bachelor of Commerce Degree from the University of British Columbia.
In connection with her appointment, the Company granted Ms. Ladd-Kruger options to purchase 200,000 shares of the Company’s common stock. The options are exercisable at a price of $1.25 per share, vest in three annual installments beginning on the first anniversary of the grant date and expire five years from the date of grant. The remaining terms of Ms. Ladd-Kruger’s employment have not yet been finalized and will be updated in an amendment to this report.
| Item 7.01 | Regulation FD Disclosure |
On September 30, 2020, the Company issued a press release announcing the appointment of Ms. Ladd-Kruger as Chief Financial Officer. A copy of the press release dated September 30, 2020 is attached to this report as Exhibit 99.1.
The information furnished under this Item 7.01, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. The following exhibit is furnished with this report: |
| 99.1 | Press Release dated September 30, 2020 |
| 104 | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document (contained in Exhibit 101) |
| 2 |
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| McEWEN MINING INC. | ||
| Date: October 1, 2020 | By: | /s/ Carmen Diges |
| Carmen Diges, General Counsel | ||
| 3 |
Exhibit 99.1
McEwen Mining Appoints Anna Ladd-Kruger as Chief Financial Officer
TORONTO, September 30, 2020 - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce the appointment of Anna Ladd-Kruger, CPA, as Chief Financial Officer effective immediately. Anna is an accomplished mining executive with over 20 years of leadership experience with proven achievements in directing and leading mining organizations.
"I’m very pleased to welcome Anna Ladd-Kruger to McEwen Mining. Anna is an experienced and innovative leader with broad global experience and a proven track record of leading strong finance teams,” commented Rob McEwen, Chairman and Chief Owner.
Anna was most recently the Chief Financial Officer & VP of Corporate Development at Excellon Resources Inc., where she led the turnaround of their corporate and site operations finance team, processes and systems. She was also integral to the company’s successful acquisition of Otis Gold.
Anna was also the Chief Financial Officer of Trevali Mining Corporation, a base metals mining company with commercially producing operations in Africa, Canada and Peru, where she was part of the original executive management team to grow the company from junior exploration to a mid-tier base metals producer that reached over $1 billion market capitalization on the TSX. She has raised over $1 billion dollars in debt and equity throughout her career in the mining sector. Anna also served as the Chief Financial Officer for a number of Canadian publicly listed junior mining companies and began her career working at Vale S.A.'s Thompson and Sudbury Canadian operations before joining Cache Coal Corporation as Mine Controller and then Kinross Gold Corporation as their North American Group Controller.
Anna currently sits on the board and serves as the Audit Chair of Integra Resources Corp., and she will also continue on the board of Excellon Resources. She is a Certified Public Accountant (CPA, CMA), and holds a Master’s in Economics from Queen's University and a Bachelor of Commerce from the University of British Columbia.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
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The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver producer and explorer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen Mining’s goal is to create a profitable gold and silver producer focused in the Americas.
McEwen Mining has approximately 409 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 20% of the shares.
| CONTACT INFORMATION: | ||
Investor Relations: (866)-441-0690 Toll Free (647)-258-0395
Mihaela Iancu ext. 320
info@mcewenmining.com |
Website: www.mcewenmining.com
Facebook: facebook.com/mcewenmining Facebook: facebook.com/mcewenrob
Twitter: twitter.com/mcewenmining Twitter: twitter.com/robmcewenmux
Instagram: instagram.com/mcewenmining |
150 King Street West Suite 2800, P.O. Box 24 Toronto, ON, Canada M5H 1J9
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