- Endeavour Silver Corp (TSX: EDR, NYSE: EXK) raised an additional US$4.99 million through full exercise of the over-allotment option.
- Total offering proceeds reached approximately US$50 million, poised to assist in a strategic acquisition.
- The company's acquisition of Compañia Minera Kolpa S.A. is expected to close within 60 days, pending regulatory approvals.
Endeavour Silver Corp (TSX: EDR, NYSE: EXK) has successfully completed a significant financial milestone with the full exercise of its over-allotment option. Underwriters purchased an additional 1,285,000 common shares, priced at US$3.88 per share. This transaction has generated an additional US$4,985,800 in gross proceeds, bringing the total gross proceeds from the offering to approximately US$50 million.
The offering was led by BMO Capital Markets, acting as the sole bookrunner, in collaboration with TD Securities Inc. and Raymond James. The funds raised are designated for the partial funding of the previously announced US$145 million acquisition of Compañia Minera Kolpa S.A. and its Huachocolpa Uno Mine. The transaction is subject to approval from both the Toronto Stock Exchange and the New York Stock Exchange and is anticipated to be finalized within the next 60 days.
As a mid-tier precious metals company, Endeavour Silver Corp is committed to sustainable and responsible mining practices, with active operations in Mexico and development projects in Chile and the United States. This strategic acquisition aligns with the company's goals of expanding its footprint and enhancing its standing as a premier senior silver producer.
