UNAUDITED PRO FORMA FINANCIAL INFORMATIONUnaudited Pro Forma Financial Information • December 15th, 2017 • McEwen Mining Inc. • Gold and silver ores
McEwen Mining Inc. (the “Company” or “McEwen”) entered into an Asset Purchase Agreement (the “APA”) with Primero Mining Corp. (“Primero”) on August 25, 2017, whereby the Company, through its wholly-owned subsidiary, purchased and assumed the Purchased Assets and Assumed Liabilities as defined within the Asset Purchase Agreement related to the Black Fox Complex for total cash consideration of $27.5 million, which is the purchase price of $35.0 million less closing adjustments. The transaction was completed on October 6, 2017. There are certain assets that although considered a part of the Black Fox Complex, were not acquired based on the terms of the APA. These were limited to the following items: (a) bank accounts that were retained by Primero, (b) bullion that was included as part of the inventory, also retained by Primero, and (c) bond deposits with the Ministry of Northern Development and Mines in relation to the Asset Retirement Obligation. As such, the items were disregarded withi
