Etruscan Resources Inc.

Published : June 28th, 2010

Endeavour to acquire 45% minority interest with premium cash and share offer to own 100%

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Halifax, Nova Scotia and George Town, Grand Cayman, June 28, 2010 - Etruscan Resources Inc. (?Etruscan?, TSX:EET) and Endeavour Financial Corporation (?Endeavour?, TSX:EDV) are pleased to announce that they have entered into a definitive arrangement agreement by which Endeavour will acquire all of the shares of Etruscan that Endeavour does not already own.  Endeavour currently owns 55% of Etruscan and will acquire the remaining 45% of Etruscan via a court-approved plan of arrangement (the ?Arrangement?). 

Under the Arrangement, Etruscan shareholders will receive total consideration of C$0.48 per Etruscan share comprised of C$0.26 in cash plus 0.0932 of an Endeavour share, representing a premium of 33% using the 20-day volume weighted average prices of Endeavour and Etruscan on the TSX for the 20 trading day period ending June 25, 2010.

The cash component of this transaction will utilize approximately C$43 million of Endeavour?s US$100 million revolving Acquisition Facility announced on June 25, 2010.

 

Click to download complete press release

For more information visit our website at http://www.etruscan.com/



Etruscan Resources Inc.
Suite 306, Royal Bank Building
1597 Bedford Highway
Halifax, NS B4A 1E7

Telephone: 1 902 832 6700
Fax: 1 902 832 6702
email:
info@etruscan.com

If you wish to unsubscribe send a message to mailto:info@etruscan.com

Etruscan Resources Inc.

CODE : EET.TO
ISIN : CA29786L1022
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Etruscan Res. is a producing company based in Canada.

Etruscan Res. is listed in Canada and in Germany. Its market capitalisation is CA$ 166.1 millions as of today (US$ 165.6 millions, € 127.6 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.48, and its lowest recent point on July 17, 2009 at CA$ 0.18.

Etruscan Res. has 338 894 000 shares outstanding.

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In the News and Medias of Etruscan Resources Inc.
3/19/2008 article which appeared in the online magazine Resource Inv...
Annual reports of Etruscan Resources Inc.
2007 Annual report
Project news of Etruscan Resources Inc.
8/21/2008(Youga) YOUGA MINE PROJECTED TO BE CASH POSITIVE IN AUGUST
7/9/2008(Youga)Achieves Commercial Production AT Youga Gold Mine
6/19/2008(Kamanjab)DRILLING MULTIPLE TARGETS IN NAMIBIA
6/5/2008(Youga)YOUGA GOLD MINE RECOVERS 7800 OUNCES IN FIRST THREE MONTHS O...
2/4/2008FIRST ORE PROCESSED AT ETRUSCAN’S YOUGA GOLD MINE
10/3/2007(Youga)YOUGA GOLD MINE NEARS COMPLETION
8/30/2007(Finkolo)News Release August 30, 2007 - DRILLING INTERSECTS 6 METERS ...
8/8/2007EXPANDS ITS STRATEGIC LAND POSITION IN GHANA
7/26/2007(Diba Concession)Drilling at DIBA confirms deposit remains open down dip and ...
7/12/2007Deeper High Grade Intercepts at Etruscan's Finkolo Gold proj...
Corporate news of Etruscan Resources Inc.
6/28/2010Endeavour to acquire 45% minority interest with premium cash...
3/12/2008ACHIEVING OVER $750 PER CAR
1/7/2008 53% INCREASE IN GOLD RESOURCE
11/30/2007Etruscan Closes Exercise of Over-Allotment Option
11/2/2007Closes CDN$35Million Public Offerin
10/9/2007Completes acquisition of the Tirisano Mine in South Africa
9/19/2007 Regains control of the Tirisano Mine in South Africa
3/14/2007 Etruscan and Mountain Lake complete restructuring of diamon...
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