trending Market Intelligence /marketintelligence/en/news-insights/trending/Bc4q1obMuL0gdHD2w_DvMg2 content esgSubNav
In This List

Endeavour Mining secures additional C$63.4M investment from La Mancha Holding

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Endeavour Mining secures additional C$63.4M investment from La Mancha Holding

Endeavour Mining Corp. said April 17 that its largest shareholder, La Mancha Holding SARL, exercised, through a C$63.4 million private placement, its anti-dilution right to increase its current 28.1% interest in the miner to its initial 29.9% ownership position.

Under the placement, La Mancha will acquire 2,573,372 common Endeavour shares at C$24.62 apiece, boosting its stake to 29.99% with 28,826,304 common shares.

The placement, which remains subject to Toronto Stock Exchange approval, will increase La Mancha's investment in Endeavour to about US$190 million.

Endeavour will use the proceeds to support organic growth, including the potential development of a carbon-in-leach project at the Ity gold operation in Ivory Coast and a five-year exploration program, as well as for general working capital.

The company outlined plans in March to increase its interest in the Ity mine from 55% to 80%.