Endeavour To Raise $1.16 Million In Private Placement Financing
Vancouver, British Columbia, Canada - December 23, 2004 Endeavour Silver Corp. (EDR: TSX-V)announces it has agreed to a CAD$ 1.16 million private placement financing.
The financing includes a best efforts brokered private placement of up to 312,500 units at CAD$ 1.60 per unit for a total of CAD$ 500,000. Each unit will consist of one common share and one warrant, each warrant giving the holder the right to purchase one common share at CAD$ 2.10 within 12 months or CAD$2.30 within 24 months.
Endeavour will also complete a non-brokered private placement of up to 412,500 units at the same price and the same terms as the brokered placement for an additional CAD$ 660,000. The net proceeds of both placements will be added to working capital.
A 7.5% cash commission and up to 40,000 broker warrants (having the same terms as the warrants in the units) will be paid to Leede Financial Markets Inc. as the Agents of the brokered private placement on closing.
Endeavour Silver Corp. (EDR: TSX-V) is a small-cap exploration and mining company focused on aggressively expanding its portfolio of high-grade silver properties, reserves and production in Mexico. Canarc Resource Corp. holds a minority shareholding in the Company and helps manage the affairs of Endeavour.
On Behalf of the Board of Directors,
ENDEAVOUR SILVER CORP.
/s/ "Bradford J. Cooke"
Bradford J. Cooke
President and CEO
"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release."