Toronto Stock Exchange: EDV
GEORGE TOWN, Grand Cayman, Nov. 17, 2011 /CNW/ - Endeavour Mining
Corporation ("Endeavour" or the "Corporation") (TSX: EDV) is pleased to
announce that Institutional Shareholder Services Inc. ("ISS") and
Glass, Lewis & Co., LLC ("GL") have recommended that shareholders of
Endeavour vote FOR the Share Issuance Resolution, in connection with
the merger between Endeavour and Adamus Resources Limited ("Adamus")
(ASX: ADU) (the "Merger"), at the upcoming special meeting of
shareholders to be held on November 25, 2011.
In addition, ISS and GL have recommended that shareholders of Adamus
vote FOR the Scheme of Arrangement Resolution at the upcoming meeting
of Adamus shareholders to be held on November 28, 2011.
ISS and GL are leading independent international corporate governance
analysis and proxy voting firms. Their recommendations assist
shareholders to make decisions regarding proxy voting.
In their analysis and from an Endeavour shareholder perspective, ISS
said: "The strategic rationale is satisfactory, market reaction has
been positive and there are no corporate governance concerns. As such,
approval of the share issuance is warranted."* GL said: "We see no
significant reason to doubt the strategic rationale behind the proposed
merger, as the combined company should have a strong balance sheet, two
operating mines and numerous West African mining projects in the
pipeline. The deal may also better position the combined company for
future acquisitions that are currently unavailable to both Adamus and
Endeavour on a stand-alone basis."*
Neil Woodyer, CEO, commented "We are pleased that both ISS and GL
support the Endeavour and Adamus boards' views that shareholders should
support the resolutions to effect the Merger. The Merger will create a
leading West African gold production, development and exploration
company, which will be a platform for future growth and acquisitions."
Endeavour shareholders are reminded to vote their proxy FOR the Merger
before the proxy deadline of Wednesday, November 23, 2011 at 9:00 A.M
For further information or assistance in voting your shares or to
request additional copies of the Meeting Materials, Endeavour
shareholders should contact Kingsdale Shareholder Services Inc. at
1-866-581-1571 toll free in North America or collect at 416-867-2272
outside of North America or by email at firstname.lastname@example.org.
*Permission to quote from the ISS and GL reports was neither sought nor
About Endeavour Mining Corporation
Endeavour is a gold producer. Endeavour also holds an extensive
exploration land position and various advanced-stage development gold
projects in West Africa. Endeavour has a global strategy, supported by
financial resources and management's company building expertise, to
grow into an intermediate gold producer through strategic acquisitions.
On August 21, 2011, Endeavour and Adamus announced they have entered
into a definitive Merger Implementation Agreement to combine through an
all-stock merger of equals transaction creating a new growth focused
West African gold producer. In connection with the merger, a special
meeting of Endeavour's shareholders has been scheduled to be held on
November 25, 2011 which, if approved, will result in the merger closing
during December 2011.
The common shares of Endeavour Mining Corporation are traded on the
Toronto Stock Exchange under the symbol "EDV".
On behalf of Endeavour Mining Corporation
Chief Executive 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 Mining 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 Mining Corporation
For further information:
Stephen Roberts, Senior Vice President - Investor Relations (604) 609-6130, email@example.com
Vanguard Shareholder Solutions 1-866-341-4111 or (604) 608-0824, firstname.lastname@example.org