By Sheri Kasprzak
New York, Sept. 16 - Endeavour Silver Corp. said it priced a private placement of units and then upsized the total to C$14.4 million.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$2.90 each for two years.
A syndicate of underwriters led by Salman Partners Inc. has an over-allotment option for up to 800,000 additional units.
The offering was announced earlier Friday as a C$9.6 million deal comprised of 4 million units under the same terms.
The deal is scheduled to close Oct. 5.
Proceeds will be used for exploration, development and expansion of the company's Mexican silver properties. The rest will be used for working capital and more acquisitions.
Based in Vancouver, B.C., Endeavour is a silver exploration company.
| Issuer: | Endeavour Silver Corp.
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| Issue: | Units of one share and one-half share warrant
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| Amount: | C$14.4 million
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| Units: | 6 million
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| Greenshoe: | For 800,000 units
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| Price: | C$2.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.90
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| Underwriter: | Salman Partners Inc.
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| Pricing date: | Sept. 16
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| Settlement date: | Oct. 5
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| Stock price: | C$2.43 at close Sept. 16
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