Endeavour Silver Corp. Closes US$73 Million Bought Deal Financing
Endeavour Silver (TSX: EDR, NYSE: EXK) has successfully completed its previously announced prospectus offering, raising US$72.8 million through the issuance of 15,825,000 common shares at US$4.60 per share. The offering was led by BMO Capital Markets along with a syndicate of underwriters including CIBC World Markets, TD Securities, Ventum Financial Corp., and H.C. Wainwright & Co. The company intends to use the net proceeds to advance its Pitarrilla project in Durango State, Mexico, and for general working capital purposes.
Endeavour Silver (TSX: EDR, NYSE: EXK) ha completato con successo l'offerta di prospetto annunciata in precedenza, raccogliendo 72,8 milioni di dollari USA attraverso l'emissione di 15.825.000 azioni ordinarie a 4,60 dollari USA per azione. L'offerta è stata guidata da BMO Capital Markets insieme a un sindacato di sottoscrittori tra cui CIBC World Markets, TD Securities, Ventum Financial Corp. e H.C. Wainwright & Co. L'azienda intende utilizzare il ricavato netto per promuovere il suo progetto Pitarrilla nello stato di Durango, Messico, e per le spese generali di capitale operativo.
Endeavour Silver (TSX: EDR, NYSE: EXK) ha completado con éxito su oferta de prospecto previamente anunciada, recaudando 72,8 millones de dólares estadounidenses mediante la emisión de 15.825.000 acciones ordinarias a 4,60 dólares estadounidenses por acción. La oferta fue liderada por BMO Capital Markets junto con un sindicato de suscriptores que incluye a CIBC World Markets, TD Securities, Ventum Financial Corp. y H.C. Wainwright & Co. La empresa tiene la intención de utilizar los ingresos netos para avanzar en su proyecto Pitarrilla en el estado de Durango, México, y para fines generales de capital de trabajo.
엔데버 실버 (TSX: EDR, NYSE: EXK)는 이전에 발표된 증권 신고서 공모를 성공적으로 완료하고 7280만 달러를 모금했습니다. 15825000주를 주당 4.60달러에 발행했습니다. 이 공모는 BMO 캐피탈 마켓이 이끌었으며 CIBC 월드 마켓, TD 증권, Ventum 금융 주식회사 및 H.C. 웨인라이트 & 코와 같은 인수단과 함께합니다. 이 회사는 순수익을 멕시코 두랑고 주의 피타릴라 프로젝트를 추진하는 데 사용하고, 일반적인 운영 자본 용도로 사용할 계획입니다.
Endeavour Silver (TSX: EDR, NYSE: EXK) a réussi à finaliser son offre de prospectus annoncée, levant ainsi 72,8 millions de dollars américains grâce à l'émission de 15.825.000 actions ordinaires à 4,60 dollars américains par action. L'offre a été conduite par BMO Marchés des capitaux avec un syndicat de souscripteurs comprenant CIBC Marchés mondiaux, TD Securities, Ventum Financial Corp. et H.C. Wainwright & Co. La société a l'intention d'utiliser le produit net pour faire avancer son projet Pitarrilla dans l'État de Durango, au Mexique, et pour des besoins généraux en fonds de roulement.
Endeavour Silver (TSX: EDR, NYSE: EXK) hat erfolgreich das zuvor angekündigte Prospekt-Angebot abgeschlossen und 72,8 Millionen US-Dollar durch die Emission von 15.825.000 Stammaktien zu einem Preis von 4,60 US-Dollar pro Aktie gesammelt. Das Angebot wurde von BMO Capital Markets geleitet, zusammen mit einem Syndikat von Underwritern, darunter CIBC World Markets, TD Securities, Ventum Financial Corp. und H.C. Wainwright & Co. Das Unternehmen beabsichtigt, die Nettoerlöse zur Weiterentwicklung seines Pitarrilla-Projekts im Bundesstaat Durango, Mexiko, sowie für allgemeine Betriebskapitalzwecke zu verwenden.
- Successfully raised US$72.8 million in capital financing
- Strong institutional backing from major financial institutions
- Significant shareholder dilution through issuance of 15.8 million new shares
Insights
The
The capital injection is particularly timely for developing Pitarrilla, one of Mexico's largest undeveloped silver projects. This financing reduces project execution risk and potentially accelerates the timeline to production. With silver prices showing strength, the company is well-positioned to capitalize on the market conditions while advancing its growth strategy. The working capital component also provides operational flexibility in the current volatile commodity environment.
VANCOUVER, British Columbia, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (TSX: EDR, NYSE: EXK) is pleased to announce the completion of its prospectus offering announced on November 20, 2024 for the issuance of a total of 15,825,000 common shares (“Common Shares”) at a price of US
The Company plans to use the net proceeds of the Offering for the advancement of the Pitarrilla project in Durango State, Mexico and general working capital.
About Endeavour Silver Corp.
Endeavour is a mid-tier precious metals company committed to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, which has helped it achieve its goal of becoming a premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: apettit@edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the intended use of proceeds.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause actual events, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in production and costs guidance; the ongoing effects of inflation and supply chain issue on mine economics; changes in national and local governments’ legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; financial risks due to precious metal prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; continued compliance with the project loan debt facility; fluctuations in the prices of silver and gold; fluctuations in currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and US dollar); and challenges to the Company’s title to properties; as well as those factors described in the section “Risk Factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. These forward-looking statements represent the Company’s views as of the date of this release. There can be no assurance that any forward-looking statements or information will be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
FAQ
How much did Endeavour Silver (EXK) raise in its November 2024 bought deal financing?
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