Toronto Stock Exchange - EDV
GEORGE TOWN, Grand Cayman, Feb. 13 /CNW/ - Endeavour Financial Corporation ("Endeavour") announces that on November 6, 2008, Endeavour became an insider of Sky Ridge Resources Ltd. by resuming control over 8,200,000 common shares ("Common Shares") of Sky Ridge Resources Ltd. ("Sky Ridge") owned by Endeavour representing approximately 10.3% of the issued and outstanding Common Shares of Sky Ridge which were previously reported under the alternative monthly reporting system. On December 20th, 2008, Endeavour acquired ownership and control over 3,200,000 common shares of Sky Ridge through the exercise of 3,200,000 warrants (the "Acquisition"). Upon completion of the Acquisition, Endeavour now holds an aggregate of 11,400,000 common shares representing approximately 13.3% of the issued and outstanding Common Shares of Sky Ridge.
Prior to the Acquisition, Endeavour held an aggregate of 8,200,000 Common Shares, 3,200,000 Warrants ("Warrants") and 1,000,000 options ("Options") entitling it to acquire an additional 3,200,000 Common shares from the warrant exercise and an additional 1,000,000 Common Shares from date of the option exercise. After giving effect to the Acquisition, Endeavour holds 11,400,000 Common Shares, representing approximately 13.3% of the issued and outstanding Common Shares of Sky Ridge. If all of the Options were exercised, assuming no other outstanding convertible securities of Sky Ridge were exercised or converted, Endeavour would own an aggregate of 12,400,000 common shares, representing approximately 14.3% of the issued and outstanding Common Shares of Sky Ridge.
Endeavour has acquired these securities for investment purposes and has no present intention to acquire further securities of the Issuer, although Endeavour may in the future acquire or dispose of securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.
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 www.endeavourfinancial.com.
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.