LEADING INDEPENDENT ADVISORY FIRMS ISS AND GLASS LEWIS SUPPORT PLAN OF ARRANGEMENT BETWEEN ENDEAVOUR MINING AND TRUE GOLD MINING
(Thomson Reuters ONE) -
LEADING INDEPENDENT ADVISORY FIRMS ISS AND GLASS LEWIS SUPPORT PLAN OF
ARRANGEMENT BETWEEN ENDEAVOUR MINING AND TRUE GOLD MINING
View News Release in PDF Format
George Town, April 11, 2016 - Endeavour Mining Corporation ("Endeavour") (TSX:
EDV) (OTCQX: EDVMF) is pleased to announce that both Institutional Shareholder
Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two leading
independent proxy advisory firms whose analyses and recommendations are relied
upon by many major institutional investment firms, mutual funds and fiduciaries,
have recommended that shareholders of Endeavour and shareholders of True Gold
Mining, Inc. ("True Gold") (TSX-V: TGM) support the proposed plan of arrangement
(the "Arrangement") between the two companies at their special meetings
scheduled for April 21, 2016.
Endorsing the Arrangement, ISS noted that "the all-stock transaction makes
strategic sense as it will create a stronger combined entity with better access
to financial markets and result [in] potential operational and administrative
synergies." Glass Lewis, in turn, indicated "that the proposed transaction is
supported by a clear strategic vision and tangible benefit for Endeavour
shareholders, who will gain exposure to the low-cost Karma gold mine."
In addition, both ISS and Glass Lewis have recommended to Endeavour shareholders
that they vote for the approval of the issuance of shares to La Mancha Holding
S.àr.l. ("La Mancha") and the increase in the authorized share capital. As noted
by ISS, "the dilution of the share issuance appears to be reasonably limited,"
while the increase in the authorized share capital "is considered generally
acceptable."
All Endeavour shareholders are encouraged to read the information circular with
respect to the Arrangement, which was mailed to shareholders of record as of
March 15(th), 2016. It is also available on SEDAR at www.sedar.com and
Endeavour's website (www.endeavourmining.com).
The Board of Directors of Endeavour has unanimously recommended that
shareholders vote in favour of the resolutions outlined in the circular.
Registered Endeavour Shareholders are encouraged to vote by proxy, which must be
received by Computershare by 10:00 a.m. (EST) on April 19, 2016.
If you have any questions or require assistance in voting, please contact our
proxy solicitation agent, D.F. King, at 1-800-926-7043 toll free in North
America, or call collect outside North America at 1-201-806-7301 or by email at
inquiries(at)dfking.com.
Contact Information
Vincent Benoit DFH Public Affairs in Toronto
EVP - Strategy & Business Development John Vincic
+33 (0)1 70 38 36 96 (416) 206-0118 x.224
vbenoit(at)endeavourmining.com jvincic(at)dfhpublicaffairs.com
Martino De Ciccio Brunswick Group LLP in London
VP - Strategy & Investor Relations Carole Cable, Partner
+33 (0)1 70 38 36 95 +44 7974 982 458
mdeciccio(at)endeavourmining.com ccable(at)brunswickgroup.com
About Endeavour Mining Corporation
Endeavour Mining is a TSX-listed intermediate gold mining company which operates
4 West African mines in Côte d'Ivoire, Mali, and Ghana. In 2016, it expects to
produce between 535,000 and 560,000 ounces at an all-in sustaining cost of
US$870 to US$920 per ounce, after adjustment of the recent Youga sale and
excluding the Karma mine (where the transaction with True Gold is expected to
close at the end of April 2016). Endeavour Mining is focused on effectively
managing its existing assets to maximize cash flow as well as pursuing organic
and strategic growth opportunities that benefit from its management and
operational expertise.
Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco
98000
This news release contains "forward-looking statements" including but not
limited to, statements with respect to Endeavour's plans and operating
performance, the estimation of mineral reserves and resources, the timing and
amount of estimated future production, costs of future production, future
capital expenditures, and the success of exploration activities. Generally,
these forward-looking statements can be identified by the use of forward-looking
terminology such as "expects", "expected", "budgeted", "forecasts" and
"anticipates". Forward-looking statements, while based on management's best
estimates and assumptions, are subject to risks and uncertainties that may cause
actual results to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks related to
the successful integration of acquisitions; risks related to international
operations; risks related to general economic conditions and credit
availability, actual results of current exploration activities, unanticipated
reclamation expenses; changes in project parameters as plans continue to be
refined; fluctuations in prices of metals including gold; fluctuations in
foreign currency exchange rates, increases in market prices of mining
consumables, possible variations in ore reserves, grade or recovery rates;
failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes, title disputes, claims and limitations on insurance coverage
and other risks of the mining industry; delays in the completion of development
or construction activities, changes in national and local government regulation
of mining operations, tax rules and regulations, and political and economic
developments in countries in which Endeavour operates. Although Endeavour has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Please refer to Endeavour's most recent
Annual Information Form filed under its profile at www.sedar.com for further
information respecting the risks affecting Endeavour and its business.
View News Release in PDF Format:
http://hugin.info/171882/R/2002225/738859.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Endeavour Mining Corporation via GlobeNewswire
[HUG#2002225]
Unternehmensinformation / Kurzprofil:
Datum: 11.04.2016 - 12:30 Uhr
Sprache: Deutsch
News-ID 463099
Anzahl Zeichen: 8060
contact information:
Town:
George Town, Grand Cayman
Kategorie:
Business News
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"LEADING INDEPENDENT ADVISORY FIRMS ISS AND GLASS LEWIS SUPPORT PLAN OF ARRANGEMENT BETWEEN ENDEAVOUR MINING AND TRUE GOLD MINING"
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