Endeavour International Corporation

Published : April 26th, 2016

Completes Acquisition of True Gold

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Keywords :   Cash | Ghana | Gold | Growth | London | Mali | Market | Mines | Monaco |
   


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.�r.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 C�te 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 (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Endeavour Mining, c/o Intertrust Corporate Services Limited 190 Elgin Avenue, George Town, Grand Cayman KY1-9005s, United Kingdom
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Endeavour International Corporation

DEVELOPMENT STAGE
CODE : END
ISIN : US29259G2003
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Endeavour is a and oil development stage company based in United states of america.

Endeavour develops natural gas in U.k., and holds various exploration projects in Norway.

Its main asset in development is COLUMBUS in U.k. and its main exploration properties are NOATUN and ROCHELLE DISCOVERY in Norway.

Endeavour is listed in United States of America. Its market capitalisation is US$ 7.3 millions as of today (€ 5.8 millions).

Its stock quote reached its highest recent level on January 13, 2012 at US$ 9.99, and its lowest recent point on October 10, 2014 at US$ 0.15.

Endeavour has 47 200 000 shares outstanding.

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