By Sheri Kasprzak
New York, March 28 - Endeavour Silver Corp. said it has arranged a C$22.5 million private placement of special warrants exchangeable for units of one share and one half-share warrant.
The offering includes up to 5 million special warrants at C$4.50 each. The special warrants are priced at a 9% discount to the company's C$4.95 closing stock price Tuesday.
A syndicate of agents led by Salman Partners Inc. and including Canaccord Capital Corp. and Dundee Securities Corp. has a greenshoe for up to 2 million additional special warrants.
The warrants issuable upon exchange are exercisable at C$5.25 each for 18 months.
The special warrants are exchangeable once a prospectus covering the underlying shares is declared effective.
The deal is expected to close April 21.
Proceeds will be used for acquisition, exploration and development expenses on the company's silver projects in Mexico and for working capital.
Based in Vancouver, B.C., Endeavour is a silver exploration company.
| Issuer: | Endeavour Silver Corp.
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| Issue: | Special warrants exchangeable for units of one share and one half-share warrant
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| Amount: | C$22.5 million
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| Special warrants: | 5 million
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| Greenshoe: | For up to 2 million special warrants
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| Price: | C$4.50
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| Warrants: | One half-share warrant per unit upon exchange
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$5.25
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| Placement agents: | Salman Partners Inc. (lead), Canaccord Capital Corp., Dundee Securities Corp.
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| Pricing date: | March 28
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| Settlement date: | April 21
|
| Stock symbol: | Toronto: EDR
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| Stock price: | C$4.95 at close March 28
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