Endeavour Completes Acquisition of True Gold
April 26 2016 - 8:29AM
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Endeavour
Completes Acquisition of True Gold
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George Town,
April 26, 2016 -
Endeavour Mining Corporation ("Endeavour") (TSX: EDV) (OTCQX:
EDVMF) and True Gold Mining Inc. ("True Gold") (TSX-V: TGM) are
pleased to announce the successful completion of the previously
announced acquisition of True Gold.
Pursuant to a court-approved plan
of arrangement (the "Arrangement"), shareholders of True Gold
received 0.044 of an Endeavour ordinary share for each True Gold
common share held. In addition, La Mancha Holding S.àr.l. ("La
Mancha") exercised its anti-dilution right to maintain its 30%
stake and invested CDN$82.6 million via an equity placement for
7,546,777 Endeavour ordinary shares.
Following the transaction close,
Endeavour's issued and outstanding shares totalled approximately
84.3 million and its market capitalization amounted to
approximately CDN$1.3 billion, based on Endeavour's closing price
on the Toronto Stock Exchange on April 25, 2016.
Contact Information
|
Vincent Benoit
EVP - Strategy & Business Development
+33 (0)1 70 38 36 96
vbenoit@endeavourmining.com
Martino De Ciccio
VP - Strategy & Investor Relations
+33 (0)1 70 38 36 95
mdeciccio@endeavourmining.com |
DFH Public Affairs in Toronto
John Vincic
(416) 206-0118 x.224
jvincic@dfhpublicaffairs.com
Brunswick Group LLP in London
Carole Cable, Partner
+44 7974 982 458
ccable@brunswickgroup.com |
About
Endeavour Mining Corporation
Endeavour Mining is a TSX-listed
intermediate gold mining company which operates 4 West African
mines in Côte d'Ivoire, Mali, and Ghana. In 2016, it expects to
produce between 535,000 and 560,000 ounces at an all-in sustaining
cost of US$870 to US$920 per ounce, after adjustment of the recent
Youga sale and excluding the Karma mine. Endeavour Mining is
focused on effectively managing its existing assets to maximize
cash flow as well as pursuing organic and strategic growth
opportunities that benefit from its management and operational
expertise.
Endeavour Mining |
Executive Office |
Bureau 76, 7 Boulevard des Moulins, Monaco
98000
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This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Endeavour Mining Corporation via
Globenewswire
HUG#2006855
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