By Sheri Kasprzak
New York, April 25 - Endeavour Silver Corp. said it has settled its previously announced PIPE, including the partially exercised over-allotment option, for C$22,995,000.
The company issued a total of 5.11 million special warrants at C$4.50 each, including the greenshoe for 110,000 special warrants exercised by a syndicate of agents led by Salman Partners Inc. and including Canaccord Capital Corp. and Dundee Securities Corp.
The syndicate had originally been granted a greenshoe for 2 million special warrants.
The remainder of the special warrants, according to a statement released Tuesday, will be issued upon shareholder approval.
The special warrants are exchangeable for units of one share and one half-share warrant once a prospectus covering the underlying shares is declared effective.
The warrants issuable upon exchange are exercisable at C$5.25 each for 18 months.
The deal priced on March 28 as a C$22.5 million offering of 5 million special warrants.
Proceeds will be used for acquisition, exploration and development expenses on the company's silver projects in Mexico and for working capital.
Based in Vancouver, B.C., Endeavour is a silver exploration company.
| Issuer: | Endeavour Silver Corp.
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| Issue: | Special warrants exchangeable for units of one share and one half-share warrant
|
| Amount: | C$22,995,000
|
| Special warrants: | 5.11 million (includes greenshoe for 110,000 special warrants)
|
| Price: | C$4.50
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| Warrants: | One half-share warrant per unit upon exchange
|
| Warrant expiration: | 18 months
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| Warrant strike price: | C$5.25
|
| Placement agents: | Salman Partners Inc. (lead), Canaccord Capital Corp., Dundee Securities Corp.
|
| Pricing date: | March 28
|
| Settlement date: | April 25
|
| Stock symbol: | Toronto: EDR
|
| Stock price: | C$4.95 at close March 28
|
| Stock price: | C$3.25 at close April 25
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