Canadian Mining Journal

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Endeavour completes US$200M investment by La Mancha


Endeavour Mining (TSX: EDV) has completed the previously announced investment by La Mancha Holding – a business owned by the Sawiris Family of Egypt.

Endeavour issued a total of 8.9 million ordinary shares to La Mancha for aggregate net proceeds of US$200 million at a price of approximately US$22.45 per share.

The investment, which was announced as part of the acquisition of Teranga Gold in November is being made by La Mancha under its pre-existing anti-dilution right.

Following completion of the investment, Endeavour now has 252.5 million shares outstanding with La Mancha holding an interest of approximately 19%.

Midday Wednesday, Endeavour’s stock was up 5% on the TSE. The company has a $6.2-billion market capitalization.

This story first appeared on www.MINING.com.


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