The Prospector News

Endeavour Silver Increases Share position in GSilver

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Endeavour Silver Increases Share position in GSilver






Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the acquisition by Endeavour of certain securities of Guanajuato Silver Company Ltd. a British Columbia corporation with a head office at 578-999 Canada Place, Vancouver, British Columbia, V6C 3E1.


On November 30, 2021, Endeavour acquired 5,750,000 units of GSilver at a purchase price of $0.55 per Unit through a non-brokered private placement for an aggregate purchase price of $3,162,500. Each Unit consists of one common share of GSilver and one-half of a common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at a price of $0.75 per Common Share at any time on or before November 30, 2023.


In addition, on November 30, 2021, in connection with GSilver’s early payment of a US$2.5 million promissory note issued to Endeavour in connection with GSilver’s acquisition of the El Cubo mine and mill complex as announced by GSilver on November 16, 2021, Endeavour acquired 901,224 Common Shares  at a deemed price of $0.55 per Settlement Share. The Settlement Shares were issued by GSilver to settle the Mexican value added tax payable on the purchase price for El Cubo represented by the Note.


Before completion of the Private Placement and Note Settlement, Endeavour owned 21,331,058 Common Shares. Such Common Shares represented approximately 10.37% of the issued and outstanding Common Shares prior to the completion of the Private Placement and Note Settlement.


Immediately after completion of the Private Placement and Note Settlement, Endeavour owned 27,982,282 Common Shares and 2,875,000 Warrants. The Common Shares owned by Endeavour following the completion of the Private Placement and Note Settlement represent approximately 12.63% of the issued and outstanding Common Shares. If exercised, the 2,875,000 Warrants together with the 27,982,282 Common Shares owned by Endeavour would represent approximately 13.75% of the issued and outstanding Common Shares (after giving effect to the exercise of such Warrants, but not the exercise of any other common share purchase warrants or convertible securities issued by GSilver).


Endeavour’s acquisition of securities of GSilver was made for long term investment purposes and Endeavour will continue to monitor the business, prospects, financial condition and potential capital requirements of GSilver. Endeavour may from time to time in the future increase or decrease its direct or indirect ownership, control or direction over the Common Shares or other securities of GSilver through market transactions, private agreements, dilution through third party subscriptions from treasury, or otherwise.


About Endeavour Silver


Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.


Posted December 3, 2021

Share this news article


Interra Copper Reports Further Anomalous Cathedral Main Zone Drill Results

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FRA: 3MX)  anno... READ MORE

January 24, 2022

Mandalay Resources Continues to Produce Excellent Results From Its Björkdal Eastward Mine Extension Drilling Programs

Veining with visible gold, supported by excellent grades, indicat... READ MORE

January 24, 2022

Capitan Mining Drills 38.1m of 0.63 G/T AuEq within a Broad Zone of 195.1m of 0.34 G/T Aueq.

Capitan Mining Inc. (TSX-V: CAPT) is pleased to report results f... READ MORE

January 24, 2022

Gold’n Futures Intersects Significant Gold Mineralization in the Golden Mile Zone in First Four Drill Holes at its Hercules Property in Northern Ontario

Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTR... READ MORE

January 24, 2022

GFG Intercepts Multiple Gold Zones in First Hole at the Montclerg Gold Project and Provides Corporate Update

GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) announces that it... READ MORE

January 24, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News