Endeavour Silver Corp. announced it has entered into a sales agreement for an at-the-market (ATM) offering, allowing the company to sell up to US$60 million in common shares. Sales will be conducted through agents directly on the New York Stock Exchange or other recognized marketplaces in the United States. This program provides a flexible mechanism for raising capital over an approximately 24-month term.
The net proceeds from this offering, combined with the company's existing cash resources, are intended for several strategic purposes. These include advancing the evaluation and development of the Pitarrilla and Parral properties, funding any cash shortfalls during the ramp-up of operations at the Terronera project, and assessing potential development-stage mineral properties for acquisition.
Additionally, the funds will be used to continue exploration at the company's existing properties and to meet general working capital requirements. The company will pay the agents a compensation of 2.00% of the gross sales price per common share sold under the agreement. Sales under the ATM program remain subject to necessary regulatory approvals.
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