🕐07.10.09 - 17:25 Uhr
Endeavour Silver Closes $18.5 Million Prospectus Offering Including Exercise of
Over-Allotment Option
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Re: News - Wednesday, October 07, 2009
Endeavour Silver Closes $18.5 Million Prospectus Offering
Including Exercise of Over-Allotment Option
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Not For Distribution To U.S.
Newswire Services Or For Dissemination In
The United States.
Vancouver, BC, Canada - October 7, 2009 - Endeavour Silver Corp.
("Endeavour" or the "Company") (EDR: TSX, EDR: WT, EXK: NYSE-Amex, EJD:
DB-Frankfurt) is pleased to announce the completion of its prospectus
offering announced September 17, 2009 and the exercise in full of the
over-allotment option for total gross proceeds of approximately $18.5
million.
Bradford Cooke, Chief Executive Officer stated: "We were happy to see
such strong market support for this equity offering.
The Company plans
to use the net proceeds of the offering to expand its exploration
drilling programs and accelerate the mine development programs at both
mines, refurbish and expand some circuits at the Guanacevi plant and
evaluate a possible plant expansion at Guanajuato."
The offering and over-allotment consisted of a total of 6,152,500 units
at a price of $3.00 per unit, marketed by Salman Partners Inc., CIBC
World Markets Inc., Haywood Securities Inc.
and PI Financial Corp.
(collectively, the "Agents").
Each unit consisted of one common share
of the Company and one-half of one common share purchase warrant, with
each whole warrant ("Warrant") exercisable for one common share at a
price of $3.60 for a period of 24 months.
The Warrants will be listed
for trading on the Toronto Stock Exchange under the symbol "EDR.WT".
Agents compensation consisted of cash commission equal to 6% of the
gross proceeds of the offering together with agents warrants entitling
the agents to acquire a total of 369,150 common shares of the Company
at a price of $3.00 per common share for a period of 24 months.
This news release is not an offer of securities for sale in the United
States.
The securities described above have not been and will not be
registered under the U.S.
Securities Act of 1933, and may not be
offered or sold in the United States absent registration under the U.S.
Securities Act of 1933, or an applicable exemption from the
registration requirements thereof.
Endeavour Silver Corp.
is a small-cap silver mining company focused on
the growth of its silver production, reserves and resources in Mexico.
Since start-up in 2004, Endeavour has posted four consecutive years of
growing silver production and resources.
The organic expansion
programs now underway at Endeavours two operating silver mines in
Mexico combined with its strategic acquisition program should help
Endeavour achieve its goal to become the next premier mid-tier primary
silver producer.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Bradford J.
Cooke"
BRADFORD COOKE
Chairman and CEO
For more information, please contact Hugh Clarke at Toll free:
877-685-9775, tel: (604) 685-9775, fax: (604) 685-9744, email
or visit our website, www.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.
Forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Endeavour
and its operations to be materially different from those expressed or
implied by such statements.
Such statements include comments regarding
the completion and terms of the proposed Offering and the use of
proceeds therefrom.
Factors that could cause actual results to differ
materially include: the ability to settle the terms of the Offering and
to satisfy conditions of the Offering; the failure to receive
regulatory approvals with respect to the Offering; changes in the
prices of gold and silver; and changes in Canadian and U.S.
securities
markets.
In addition, specific reference is made to "Forward-Looking
Statements" and "Risk Factors" in the Companys Annual Information Form
dated March 31, 2009.
There can be no assurance that any
forward-looking statements or information will prove to 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.
You can also view this News Release on our website at:
http://www.edrsilver.com/s/NewsReleases.asp?ReportID=366684
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Copyright (c) 2009 ENDEAVOUR SILVER CORP.
(EDR) All rights reserved.
For more information visit our website at http://www.edrsilver.com/ or
send mailto:
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