On April 1, 2025, Endeavour Silver Corp. announced the acquisition of Compañía Minera Kolpa S.A. (“Kolpa”) and its flagship Huachocolpa Uno Mine from affiliates of Arias Resource Capital Management and Grupo Raffo. The deal is valued at US$145 million (approx. C$197 million), with US$80 million in cash and US$65 million in Endeavour shares. An additional US$10 million (approx. C$13.6 million) in contingent payments and the assumption of Kolpa’s US$20 million net debt are included. To finance the acquisition, Endeavour entered a US$35 million copper stream agreement with Versamet Royalties and secured US$40 million in a bought deal equity financing led by BMO Capital Markets.

Kolpa operates a 1,800 tpd underground silver-polymetallic mine in Huancavelica, Peru, producing 5.1 million AgEq oz in 2024. It holds 143 concessions spanning over 25,000 hectares and has long-term expansion potential with permitting underway to scale capacity to 2,500 tpd. The asset complements Endeavour’s technical underground mining expertise and marks its expansion into Peru, one of the world’s largest silver producers.

Legal counsel for Endeavour included Blake, Cassels & Graydon LLP (Canada) and Philippi Prietocarrizosa Ferrero DU & Uría (Peru), with Accelera Capital Inc. acting as financial advisor. The sellers were represented by Rebaza, Alcázar & De Las Casas (Peru) and Stikeman Elliott LLP (Canada). The transaction is expected to close mid-2025, subject to regulatory and customary approvals.

The transaction closed on May 1, 2025.