Dundee Resources Limited

June 23, 2010 09:20 ET

Dundee Resources Acquires Interest in Reunion Gold Corporation

TORONTO, ONTARIO--(Marketwire - June 23, 2010) - In accordance with regulatory requirements, Dundee Resources Limited ("Dundee Resources") announced today that it has acquired an aggregate of 19,250,000 units of Reunion Gold Corporation ("Reunion Gold") at a price of $0.10 per unit (each a "Unit") pursuant to Reunion Gold's previously announced non-brokered private placement financing (the "Private Placement"). Each Unit is comprised of one common share in the capital of Reunion Gold ("Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles Dundee Resources to purchase one Common Share of Reunion Gold at a price of $0.20 for a period of 24 months from the closing date of the Private Placement. These holdings represent an approximate 18.45% interest on an undiluted basis or an approximate 31.15% interest in Reunion Gold assuming the conversion of all Warrants purchased under the Private Placement by Dundee Resources.

The position in Reunion Gold 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 RESOURCES

Dundee Resources is a wholly owned subsidiary of Dundee Corporation (TSX:DC.A) and carries out Dundee Corporation's resource investments and initiatives.

Contact Information

  • Dundee Resources Limited
    Ned Goodman
    Chairman
    (416) 365-5665
    or
    Dundee Resources Limited
    Murray John
    President and Chief Executive Officer
    (416) 365-5645