By Sheri Kasprzak
New York, July 26 - Endeavour Silver Corp. pocketed another C$5,004,000 from its previously announced private placement. The closing brings the proceeds to C$27,999,000.
The company sold 1.112 million special warrants at C$4.50 each.
The special warrants are exchangeable for units of one share and one half-share warrant once a prospectus covering the underlying shares is declared effective.
The warrants issuable upon exchange are exercisable at C$5.25 each for 18 months.
The deal closed with a partially exercised greenshoe for C$22,995,000 when the company sold 5.11 million special warrants. The first closing included the greenshoe for 110,000 special warrants exercised by a syndicate of agents led by Salman Partners Inc. and including Canaccord Capital Corp. and Dundee Securities Corp.
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.
|
| Issue: | Special warrants exchangeable for units of one share and one half-share warrant
|
| Amount: | C$5,004,000
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| Special warrants: | 1,112,000
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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
|
| Placement agents: | Salman Partners Inc. (lead), Canaccord Capital Corp. and Dundee Securities Corp.
|
| Settlement date: | July 26
|
| Stock symbol: | Toronto: EDR
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| Stock price: | C$3.24 at close July 26
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