Endeavour acquires 14.3% interest in Sky Ridge

2009-02-13 17:45 EST - News Release

Also News Release (C-SYR) Sky Ridge Resources Ltd

Mr. Bill Koutsouras of Endeavour reports

On Nov. 6, 2008, Endeavour Financial Corp. became an insider of Sky Ridge Resources Ltd.

by resuming control over 8.2 million common shares of Sky Ridge Resources Ltd. owned by Endeavour representing approximately 10.3 per cent of the issued and outstanding common shares of Sky Ridge which were previously reported under the alternative monthly reporting system.

On Dec. 20, 2008, Endeavour acquired ownership and control over 3.2 million common shares of Sky Ridge through the exercise of 3.2 million warrants. Upon completion of the acquisition, Endeavour now holds a total of 11.4 million common shares representing approximately 13.3 per cent of the issued and outstanding common shares of Sky Ridge.

Prior to the acquisition, Endeavour held a total of 8.2 million common shares, 3.2 million warrants and one million options entitling it to acquire an additional 3.2 million common shares from the warrant exercise and an additional one million common shares from date of the option exercise. After giving effect to the acquisition, Endeavour holds 11.4 million common shares, representing approximately 13.3 per cent of the issued and outstanding common shares of Sky Ridge.

If all of the options were exercised, assuming no other outstanding convertible securities of Sky Ridge were exercised or converted, Endeavour would own a total of 12.4 million common shares, representing approximately 14.3 per cent of the issued and outstanding common shares of Sky Ridge.

Endeavour has acquired these securities for investment purposes and has no present intention to acquire further securities of the issuer, although Endeavour may, in the future, acquire or dispose of securities of the issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

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