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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.àr.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.
About Endeavour Mining Corporation
Endeavour Mining is a TSX-listed intermediate gold mining company which operates 4 West African mines in Côte 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$920 per ounce, after adjustment of the recent Youga sale and excluding the Karma mine. Endeavour Mining is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.
Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000
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True Gold Mining
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EN DÉVELOPPEMENT |
CODE : TGM.V |
ISIN : CA89783T1021 |
CUSIP : 768906 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
True Gold. est une société développant des projet miniers d'or basée au Canada. True Gold. détient divers projets d'exploration au Burkina Faso. Son principal projet en développement est KARMA au Burkina Faso et ses principaux projets en exploration sont LIGIDI, BISSA, SOLNA, YARAMOKO et GOULAGOU / RAMBO / KAO au Burkina Faso. True Gold. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 267,2 millions CA$ (212,1 millions US$, 187,6 millions €). La valeur de son action a atteint son plus bas niveau récent le 09 janvier 2009 à 0,09 CA$, et son plus haut niveau récent le 15 avril 2011 à 1,09 CA$. True Gold. possède 398 840 000 actions en circulation. |