Endeavour Silver Signs Definitive Agreement to Acquire Oro Silver Resources and Its El Compas Gold-Silver Mine Property and Leased Plant From Canarc Resource


VANCOUVER, BC–(Marketwired – May 09, 2016) –   Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) is pleased to announce it has entered into a definitive agreement with Canarc Resource Corp. to acquire a 100% interest in Oro Silver Resources Ltd., a wholly owned subsidiary of Canarc. Oro Silver holds the El Compas gold-silver mine property and a five-year renewable lease on the 500 tonne per day (tpd) La Plata ore processing plant in Zacatecas, Mexico.

Pursuant to the agreement, Endeavour will pay Canarc CAD$10.5 million by issuing 2,147,239 common shares of Endeavour at a deemed issue price of CAD$4.89, representing the 10-day volume weighted average price of Endeavour’s shares on the TSX. Endeavour will assume Canarc’s obligation to pay an aggregate of 165 troy ounces of gold from production to Marlin Gold Mining Ltd.

Leave a Reply