Endeavour Mining Corporation Closes C$144 million Bought Deal Financing

About this update from Endeavour Mining Plc

[{"type":"text","content":"GEORGE TOWN, Grand Cayman, United Kingdom, July 11, 2016 (GLOBE NEWSWIRE) -- Endeavour Mining (\"Endeavour\") (TSX:EDV) is pleased to announce that today it has closed the bought deal financing previously announced on June 13, 2016. The Company issued a total of 7,187,500 ordinary shares in the capital of Endeavour (\"Shares\") at a price of C$20.00 per Share, which includes the exercise of the underwriters' over-allotment option in full, for aggregate gross proceeds of C$143.75 million (the \"Offering\"). 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 carbon-in-leach gold process plant and for general corporate purposes. The proceeds will also assist in maintaining a healthy balance sheet over the near term with a sound liquidity position while implementing this organic growth strategy. The Offering was completed by a syndicate of underwriters led by BMO Capital Markets and including Canaccord Genuity, Clarus Securities, Haywood Securities, Raymond James, RBC Dominion Securities and Scotia Capital. The Shares were offered by way of a short form prospectus in all of the provinces of Canada, excluding Quebec and also offered by way of private placement in the United States and distributed internationally, as permitted. As part of the Offering, La Mancha Holding S.àr.l. purchased 1,000,000 Shares, on the same terms and conditions, for C$20 million.   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 producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction trac...

More updates from Endeavour Mining Plc