Toronto Stock Exchange: EDV
GEORGE TOWN, Grand Cayman, March 31 /CNW/ - Endeavour Financial Corporation is pleased to announce that its wholly owned subsidiary, Endeavour Financial Luxembourg SARL ("Endeavour" or the "Corporation") has acquired 64,402,219 additional restricted common shares of Crew Gold Corporation ("Crew"), which represents 3.01% of Crew's issued and outstanding common shares, at prices ranging between NOK 2.28 and NOK 2.93 per share (C$0.39 to C$0.50, based on the Bank of Canada noon spot rate of exchange on March 31, 2010 of 1 NOK = C$0.1709). The restricted shares were acquired in transactions which took place in Norway and on the Oslo Børs.
Prior to these acquisitions, Endeavour held 855,793,211 restricted common shares of Crew. After giving effect to these acquisitions, Endeavour holds 920,195,430 restricted common shares of Crew representing 43.03% of Crew's issued and outstanding common shares.
The securities were acquired by Endeavour for investment purposes. Endeavour intends to continue to assess market conditions, and if appropriate increase its position. Endeavour may in the future acquire or dispose of securities of Crew through the market or otherwise as circumstances or market conditions warrant.
About Endeavour Financial Corporation
Endeavour Financial Corporation is an independent merchant banking company focused on the global natural resources sector. We offer advisory services in project, corporate and debt capital markets; equity financings; mergers and acquisitions; and strategic business development. Endeavour also has a gold-focused investment strategy and seeks maximum returns by identifying, investing in and consolidating junior gold companies.
Endeavour Financial Corporation is listed on the Toronto Stock Exchange, symbol EDV. Warrants are listed on the Toronto Stock Exchange, symbol EDV.WT.A.
For additional information, please visit our corporate website, www.endeavourfinancial.com
On behalf of Endeavour Financial Corporation
Executive Vice President & Chief Financial Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of Endeavour Financial Corporation. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation's filings with the appropriate securities commissions.
SOURCE ENDEAVOUR FINANCIAL CORPORATION
For further information: For further information: Bill Koutsouras, Executive Vice President & Chief Financial Officer, + 377 97 98 71 62 or Vanguard Shareholder Solutions, 1-866-341-4111 or (604) 608-0824