EndeavourMining Corp. said July 11 that it has closed its previouslyannounced bought-deal financing with a syndicate of underwriters led by BMOCapital Markets, raising a total of about C$143.8 million including the fullexercise of the underwriters' overallotment option.
The C$125 million financing was in June, through which theunderwriters purchased 6.25 million Endeavour Mining shares at C$20 each. Theminer issued a total of 7,187,500 common shares for the financing, includingthe overallotment shares.
La ManchaHolding S.àr.l. participated in the financing and acquired 1million Endeavour Mining shares for a total of C$20 million.
The proceeds are earmarked for a long-term strategicexploration initiative at the company's properties in West Africa, thepotential development of the Ity carbon-in-leach gold-processing plant in the IvoryCoast and for general working capital.