Endomines completes the acquisition of TVL Gold
Endomines has today completed the acquisition of TVL Gold, the US mining company that holds rights to five gold projects in Idaho, USA. Endomines intends to develop and start production at said locations over the next few years, as has been previously announced.
The total purchase price for TVL Gold is 31.25 MUSD. As previously announced, one third of the purchase price will be paid in cash and two thirds will be paid in shares through a convertible loan. At closing, Endomines has paid a cash payment of 7 MUSD and issued a 3.33 MUSD loan note and will subsequently issue a 20.67 MUSD convertible note to the seller to complete the payment.
For more information on TVL Gold and the acquisition and therewith related transactions, please see previous press releases and also the prospectus that Endomines, relating to its recent rights issue, made public on 11 January 2018.
Saila Miettinen-Lähde, CEO, +358 40 548 36 95, saila.miettinen-lahde(at)endomines.com
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:15 CET on 27 February 2018.
Endomines AB is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo and has exploration activities more broadly along the Karelian Gold Line in Eastern Finland. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).