EDV:CA Severstal Gold NV, has bought Endeavour Financial Corporation’s entire stake in Crew Gold Corporation of 46,203,403 common shares at US$4.65 (CAD$4.78) per share. Severstal completed the purchase of 43,453,403 Common Shares September 14. The securities represent ownership and control of approximately 43.21% of the issued and outstanding Common Shares as at the date hereof. The purchases are private, over the counter transactions occurring outside of Canada from a non-resident of Canada.
In connection with the acquisition, Neil Woodyer, Frank Giustra and Michael Beckett resigned as directors of Crew Gold, and EDV voted to change its name to Endeavour Mining Corporation.
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