Endeavour Financial Corporation - Acquisition of Common Shares of Coalcorp Mining Inc.

    Toronto Stock Exchange - EDV

    GEORGE TOWN, Grand Cayman, Sept. 15 /CNW/ - Endeavour Financial
Corporation ("Endeavour") announces that it acquired 3,357,500 common shares
("Common Shares") of Coalcorp Mining Inc. ("Coalcorp") by way of a public
market transaction at a price of $1.21 per Common Share, representing
approximately 1.9% of the issued and outstanding Common Shares of Coalcorp
(the "Acquisition").
    Prior to the acquisition, Endeavour held an aggregate of 9,284,002 Common
Shares, as well as 9,363,285 warrants ("Warrants") entitling it to acquire
9,363,285 Common Shares. After giving effect to the acquisition, Endeavour
holds 12,641,502 Common Shares, representing approximately 7.3% of the issued
and outstanding Common Shares of Coalcorp. If all of the Warrants were
exercised, assuming no other outstanding convertible securities of Coalcorp
were exercised or converted, Endeavour would own approximately 12.0% of the
issued and outstanding Common Shares of Coalcorp.
    The common shares of Coalcorp were acquired by Endeavour for investment
purposes. Subject to availability, price, the general state of the capital
markets and the financial condition of Coalcorp from time to time, Endeavour
may purchase or sell securities of Coalcorp.

    About Endeavour Financial Corporation

    Endeavour is an independent merchant banking company focused on the
global natural resources sector. The Corporation offers advisory services in
project, corporate and debt capital markets; equity financings; mergers and
acquisitions; and strategic business development. Endeavour also provides
equity and bridge loans in support of clients, transactions, and other market
opportunities. Accessing its global industry networks, Endeavour creates and
launches new growth companies as both an advisor and investor.
    For additional informational please visit our corporate website at

    On behalf of Endeavour Financial Corporation

    "Bill Koutsouras"

    Bill Koutsouras
    Executive Vice President and 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 statements relating to the future
performance of Endeavour Financial Corporation. Forward-looking statements,
specifically those concerning future performance, are 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.

For further information:

For further information: Dr. Sally Eyre, Director Marketing & Business
Development, (604) 609-6129; Or Mr. Bill Koutsouras, Executive Vice President
and Chief Financial Officer, (345) 815-0601; Or Vanguard Shareholder
Solutions, 1-866-341-1111 or (604) 608-0824, email:

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