VANCOUVER - Endeavour Silver Corp. (NYSE:EXK; TSX:EDR) announced Thursday it has completed the sale of its Bolañitos silver and gold mine in Guanajuato, Mexico to Guanajuato Silver Company Ltd. (TSXV:GSVR) for a total upfront consideration of $40 million. The transaction comes as Endeavour's stock has surged over 205% in the past year, according to InvestingPro data.
The transaction, initially announced on November 24, 2025, consists of $30 million in cash and $10 million in Guanajuato Silver common shares. The shares were priced at approximately $0.27 per share, based on the 10-day volume-weighted average price preceding the agreement date.
The deal includes two contingent payments of $5 million each, triggered when the Bolañitos mine produces two million and four million ounces of silver equivalent, respectively. Each contingent payment will be satisfied 50% in cash and 50% in Guanajuato Silver shares, subject to a maximum ownership cap of 9.9%.
"The sale of the Bolañitos Mine marks an exciting milestone for Endeavour as we continue to focus our resources on our core silver assets and strategic growth," said Dan Dickson, Chief Executive Officer, in the press release statement.
With a market capitalization of $3.4 billion and revenue growth of 49% in the last twelve months, Endeavour is executing its strategy despite InvestingPro analysis indicating the stock is currently trading above its Fair Value.
As part of the agreement, Endeavour has committed to vote its Guanajuato Silver shares in accordance with recommendations of Guanajuato Silver's board for 12 months. The base shares issued to Endeavour are subject to transfer restrictions, with all shares restricted for 12 months and 50% restricted for an additional two years.
Endeavour Silver operates three mines across Mexico and Peru and maintains exploration projects in Mexico, Chile, and the United States.
No finders' fees were paid in connection with the transaction.
In other recent news, Endeavour Silver Corp. has completed its offering of $350 million in unsecured convertible senior notes. These notes are due in 2031 and carry an interest rate of 0.25%. The offering included a full exercise of a $50 million option granted to the initial purchasers. The initial conversion rate for these notes is set at 80.2890 common shares per $1,000 principal amount, translating to a conversion price of approximately $12.4550 per share. This development marks a significant financial move for Endeavour Silver, providing the company with substantial capital.
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