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Gold/Mining/Energy : Endeavour Mining (EDV.TO, EDVMF)

EDV.TO 57.94

+1.0%

3:59 PM EST

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To: Sultan who wrote (435)	9/24/2009 2:57:02 AM
From: Madharry	Read Replies (1) of 544

* Etruscan to sell shares to Endeavour Financial at C$0.30/shr * Endeavour to also buy shares, warrants from other holders * Endeavour to own 54 pct of Etruscan shares Sept 23 (Reuters) - Etruscan Resources Inc (EET.TO) said it would get $43 million equity financing from Endeavour Financial Corp (EDV.TO), helping it to repay debt and repurchase about half of its $700 per ounce gold call options. Etruscan offered its shares at C$0.30 apiece, a discount of 23 percent to the stock's Tuesday close. Endeavour also agreed to buy about 26.3 million Etruscan shares and 6.9 million share purchase warrants from Kirkland Intertrade Corp and 2190776 Ontario Inc, the company said in a statement. Endeavour will hold about 54 percent of issued and outstanding common shares of Etruscan, after completion of the placement, purchase of shares and assuming the exercise of warrants. Etruscan shares were down 9 percent, or 3.5 Canadian cents, at 35.5 Canadian cents in midday trade Wednesday on the Toronto Stock Exchange. Endeavour shares were up 2 percent at C$1.80. (Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri)

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