ENDEAVOUR FINANCIAL CORPORATION  CLOSES EQUITY OFFERING

Toronto Stock Exchange: EDV    
February 4, 2009

George Town, Grand Cayman - Endeavour Financial Corporation ("Endeavour" or the "Corporation") announced today that it has completed its previously announced public offering of 64,975,000 Units (the "Units") at a price of $1.77 per Unit, which includes the over-allotment option granted by the Corporation, to raise gross proceeds of $115,005,750 pursuant to a short form prospectus (the "Offering"). The Offering was underwritten by a syndicate co-led by GMP Securities L.P. and Canaccord Capital Corporation (the "Underwriters").

Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant. Each whole common share purchase warrant (a "Warrant") entitles the holder thereof to purchase one additional common share of the Corporation, at a price of $2.50 per common share, until 5:00 p.m. (Pacific time) on February 4, 2014.  

The Warrants will commence trading on the Toronto Stock Exchange under the symbol EDV.WT.A on February 4, 2009.
 
Endeavour Financial Corporation is listed on the Toronto Stock Exchange, symbol EDV.

About Endeavour Financial Corporation

Endeavour is an independent merchant banking company focused on the global natural resources sector. The Corporation offers advisory services in project, corporate and debt capital markets; equity financings; mergers and acquisitions; and strategic business development. Endeavour also provides equity and bridge loans in support of clients, transactions, and other market opportunities. Accessing its global industry networks, Endeavour creates and launches new growth companies as both an advisor and investor.
For additional information, please visit our corporate website, www.endeavourfinancial.com.

On behalf of Endeavour Financial Corporation

"Bill Koutsouras"

Bill Koutsouras
Executive Vice President & Chief Financial Officer

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of Endeavour Financial Corporation. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation's filings with the appropriate securities commissions.

For additional information, contact:

Dr. Sally Eyre
Director Marketing & Business Development
(604) 609-6129

or

Vanguard Shareholder Solutions     
1-866-341-4111 or (604) 608-0824