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Endeavour completes acquisition of True Gold

1.8930299Endeavour Mining Corporation (TSX: EDV) (OTCQX: EDVMF) and True Gold Mining Inc. (TSX-V: TGM) have jointly announced the successful completion of the previously announced acquisition of True Gold.


Pursuant to a court-approved plan of arrangement, shareholders of True Gold received 0.044 of an Endeavour ordinary share for each True Gold common share held.

In addition, La Mancha Holding S.àr.l. (La Mancha) exercised its anti-dilution right to maintain its 30% stake and invested CDN$82.6 million via an equity placement for 7,546,777 Endeavour ordinary shares.

Following the transaction close, Endeavour’s issued and outstanding shares totalled approximately 84.3 million and its market capitalisation amounted to approximately CDN$1.3 billion, based on Endeavour’s closing price on the Toronto Stock Exchange on April 25, 2016.

Endeavour, an intermediate gold mining company operates four West African mines in Ghana, Côte d’Ivoire and Mali.

In 2016, it expects to produce between 535,000 and 560,000 ounces at an all-in sustaining cost of US$870 to US$920 per ounce, after adjustment of the recent Youga sale and excluding the Karma mine.

Endeavour Mining is focused on effectively managing its existing assets to maximise cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.

Source: http://classfmonline.com/1.8993123

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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