Toronto Stock Exchange: EDV Australian Securities Exchange: EVR
MONACO, April 2, 2012 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) is pleased to announce that its common shares have commenced trading in the United States on the OTCQX International under the symbol "EDVMF". The OTCQX is a highly visible electronic trading venue in the U.S. and the International tier is designed for non-U.S. companies listed on qualified international stock exchanges. Endeavour common shares will continue to trade in Canada on the TSX under the symbol "EDV" and in Australia on the ASX as CDIs under the symbol "EVR".
Endeavour expects to benefit from its shares being traded on OTCQX International by gaining greater exposure and liquidity in the United States, without the regulatory costs of a traditional U.S. exchange listing. The Corporation's Canadian SEDAR public disclosure will be made directly available to U.S. investors and brokers at otcmarkets.com.
Neil Woodyer, CEO, stated "Endeavour is pleased to increase our accessibility for both institutional and retail investors in the U.S. We are also pleased to participate in the U.S. OTC Blue Sky Compliance program that allows U.S. brokers to discuss and recommend our shares to their clients, on a state-by-state basis. We are committed to increasing the liquidity of our shares and by upgrading to the top tier of the OTC market we demonstrate our commitment to this strategy."
SecuritiesLawUSA, PC will serve as the Corporation's Principal American Liaison (PAL) responsible for providing guidance on OTCQX requirements.
The OTCQX marketplace is the premier tier of the U.S. OTC market and provides a gateway to U.S. securities markets for international companies that are otherwise listed on qualified exchanges not resident in the United States. Only companies that have a substantial operating business and that provide credible, ongoing disclosure to the public are eligible for admission to OTCQX. Investor-focused companies use the quality controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. OTCQX is fully electronic and gives investors access through all major online and full-service brokerage firms in the United States, including Schwab, E*TRADE, Scottrade, TD Ameritrade, and Fidelity. Trades are settled and cleared in the United States and trade reports are disseminated publicly through financial data providers. Investors can view Real-Time Level 2 Quotes for all OTCQX companies on their web site at www.otcqx.com providing access to detailed market data, including market depth.
About Endeavour Mining Corporation
Endeavour is a growth focused West African gold production and exploration company led by an accomplished management team. Endeavour is currently producing gold at a rate of 180,000 ounces per year from two operating mines (Nzema in Ghana and Youga in Burkina Faso) and has a near-term mine construction decision (Agbaou in Côte d'Ivoire) and an extensive 2012 exploration program underway. Endeavour's goal is to produce approximately 250,000 ounces of gold per year from the end of 2013 from existing properties. Endeavour also has an acquisition growth strategy focused on West Africa and is targeting the acquisition of additional gold production before the end of 2013.
Endeavour Mining Corporation is listed on the TSX (symbol EDV), ASX (symbol EVR) and OTCQX (symbol EDVMF).
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.
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