Endeavour Silver Drops 8.5%, to Buy Oro Silver Resources

Silver Producer Focused on Growth - Mexico

Three producing silver mines/mills in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and El Cubo in Guanajuato. Production forcast for 2013: 8M Oz Eq @ 8-9$/Oz

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Endeavour Silver Drops 8.5%, to Buy Oro Silver Resources

posted on May 09, 2016 08:29PM

2016-05-09 03:30:00 PM ET (MT Newswires)

03:30 PM EDT, 05/09/2016 (MT Newswires) -- Endeavour Silver (EXK) sheds 8.5% after the company says it will buy Oro Silver Resources Ltd from Canarc Resource Corp.

Endeavour will pay CAD$10.5 million by issuing 2,147,239 common shares of Endeavour at a deemed issue price of CAD$4.89 and assume Canarc's obligation to pay an aggregate of 165 troy ounces of gold from production to Marlin Gold Mining Ltd.