Endeavour Silver Increases Previously Announced Bought Deal Financing to US$45 Million
The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+
All dollar amounts are stated in United States (U.S.) Dollars unless otherwise noted.
VANCOUVER, British Columbia, April 01, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE:EXK, TSX:EDR) is pleased to announce that due to significant demand, it has decided to upsize its previously announced bought deal of common shares. The Company has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by BMO Capital Markets ("BMO"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 11,600,000 Shares, at a price of US$3.88 per Share for aggregate gross proceeds of approximately US$45 million (the "Offering"). The Company has granted the Underwriters an option, exercisable in whole or in part at any time up to 30 days following the closing of the Offering, to purchase up to an additional US$5 million issued pursuant to the Offering to cover over-allotments, if any (the "Over-Allotment Option").
The net proceeds of the Offering will be used to fund a portion of the cash component of the previously announced acquisition of all of the outstanding shares of Compañia Minera Kolpa S.A. ("Minera Kolpa"), and its main asset, the Huachocolpa Uno Mine ("Kolpa"), from its shareholders, which are affiliates of Arias Resource Capital Management and Grupo Raffo (collectively, the "Shareholders"), in exchange for total consideration of $145 million. In the event the Transaction is not completed for any reason, the Company will have discretion with respect to the use of net proceeds from the Offering.
The Shares will be offered in all provinces of Canada (except Quebec) pursuant to a short form base shelf prospectus (the "Base Shelf Prospectus") as accompanied by a prospectus supplement (the "Prospectus Supplement") and will be offered in the United States pursuant to a prospectus supplement to a base shelf prospectus forming part of the Company's registration statement on Form F-10 (together with any amendments thereto, the "Registration Statement") registering the Shares under the United States Securities Act of 1933, as amended, pursuant to the Multi-Jurisdictional Disclosure System adopted by the United States and Canada.
The Shares may also be offered on a private placement basis in certain jurisdictions outside of Canada and the United States pursuant to applicable prospectus exemptions. However, there will not be any sale of Shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of such province, state or jurisdiction.
The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof) accessible on Endeavour's issuer profile on SEDAR+ at www.sedarplus.ca and a copy of the Registration Statement and the Prospectus Supplement can be, once filed, found on EDGAR at www.sec.gov. A preliminary prospectus supplement has been filed to the Registration Statement with the United States Securities and Exchange Commission ("SEC"), accessible through EDGAR at www.sec.gov. This press release does not provide full disclosure of all material facts relating to the securities offered. Prospective investors should read the preliminary prospectus supplement and the other documents that the Company has filed with the SEC for more complete information about the issuer and the offering, especially ...
https://www.benzinga.com/pressreleases/25/04/g44585031/endeavour-silver-increases-previously-announced-bought-deal-financing-to-us-45-million
