PARIS – Endeavour Mining has entered into a bought deal that will raise $125 million with a syndicate of underwriters led by BMO Capital Markets. The underwriters have agreed to buy 6.25 million common shares at a price of $20.00 each. A 15% over-allotment has also been arranged.
Endeavour plans to use the net proceeds to expand current exploration programs and for potential development of the Ity gold project in Cote d’Ivoire. The company holds 55% of that project.
The company began construction in April 2016 at its Hounde gold project (90% interest) in Burkina Faso that will produce 235,000 oz per year. Other west African holdings include Tabakoto gold mine (80%) in Mali, Karma mine (90%) in Burkina Faso, Nzema mine (90%) in Ghana, and the Agbaou mine (85%) in Cote d’Ivoire.
Visit www.EndeavourMining.com for details on the individual projects.