Dundee Corporation
TSX : DC.A

Dundee Corporation

August 26, 2010 17:01 ET

Dundee Corporation: Press Release

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2010) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) ("Dundee Corp.") announced today that, when aggregated with accounts sub-advised by Ned Goodman Investment Counsel Ltd. , it owns or has control and direction over 5.0 million common shares ("Common Shares") of Creso Exploration Inc. ("Creso") and 5.5 million common share purchase warrants (the "Warrants"). The terms of the Warrants provide for the acquisition of (i) 2.5 million Common Shares at $0.165 per Common Share on or prior to June 29, 2012; (ii) 2.0 million Common Shares at $0.15 per Common Share on or prior to December 23, 2012; and (iii) 1.0 million Common Shares at $0.75 per Common Share on or prior to December 23, 2012. These holdings represent an approximate 7.16% interest in Creso on an undiluted basis or an approximate 13.94% interest assuming the conversion of all Warrants held.

The position in Creso was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.

ABOUT DUNDEE CORPORATION

Dundee Corporation is an asset management company dedicated to wealth management, real estate and resources that, combined, reflect approximately $76 billion under management and administration. Its domestic wealth management activities are carried out through its 61% controlled subsidiary, DundeeWealth Inc. Dundee Corporation's real estate activities are conducted through its 70% owned subsidiary, Dundee Realty Corporation, which operates as an asset manager of commercial real estate with activities in a land and housing business in Canada and the United States. Resource activities are carried out through its wholly-owned subsidiary, Dundee Resources Limited. Asset management activities are carried out through Ned Goodman Investment Counsel Limited and Dundee Real Estate Asset Management (DREAM).

Contact Information

  • Dundee Corporation
    Ned Goodman
    President & Chief Executive Officer
    (416) 365-5665
    or
    Dundee Corporation
    Lucie Presot
    Vice President & Chief Financial Officer
    (416) 365-5157