Endeavour Mining Corporation (“Endeavour”) is pleased to announce the successful completion of the previously announced La Mancha Holding S.à.r.l. (“La Mancha”) investment. Endeavour issued a total of 4,507,720 ordinary shares in the capital of Endeavour (“Shares”) to La Mancha for aggregate net proceeds of US$100 million (C$136 million) (the “Offering”) as La Mancha exercised its anti-dilution right in support of the SEMAFO acquisition. Following the investment, Endeavour now has 163,062,165 Shares outstanding with La Mancha holding an interest of approximately 24.1%. This marks a reduction from La Mancha’s previous 31% interest which provides for a larger free float and greater liquidity in the stock. La Mancha retains its antidilution right under its Investor Rights Agreement with Endeavour, and may also elect to increase its stake by purchasing shares on-market, subject to regulatory limits.
https://www.endeavourmining.com/media/news/endeavour-completes-us100-million-investment-la-mancha
