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Endeavour Mining Announces C$125 Million Bought Deal Financing
GEORGE TOWN, GRAND CAYMAN--(Marketwired - June 13, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Endeavour Mini
About this update from Endeavour Mining Plc
[{"type":"text","content":"GEORGE TOWN, GRAND CAYMAN--(Marketwired - June 13, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Endeavour Mining (\"Endeavour\") (TSX:EDV) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 6,250,000 ordinary shares (the \"Common Shares\"), at a price of $20.00 per Common Share for gross proceeds of $125,000,000 (the \"Offering\"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The offering is expected to close on or about July 11, 2016 and is subject to Endeavour receiving all necessary regulatory approvals. The net proceeds of the offering are intended to be used to accelerate Endeavour's organic growth potential by significantly expanding the current exploration programs in a long-term strategic exploration initiative leveraging Endeavour's high-quality West-African exploration portfolio, for the potential development of the Ity CIL project and for general corporate purposes. The proceeds will also assist in maintaining a healthy balance sheet over the medium term with a sound liquidity position while implementing this organic growth strategy. As part of the Offering, La Mancha Holding S.àr.l. will be purchasing a minimum of $15 million of Common Shares on the same terms and conditions. The Common Shares will be offered by way of a short form prospectus in all of the provinces of Canada, excluding Quebec and may also be offered by way of private placement in the United States and distributed internationally, as permitted. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Endeavour Mining Corporation Endeavour Mining is a TSX-listed intermediate gold pro...