TORONTO, ONTARIO--(Marketwired - July 11, 2016) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) announces that, through its wholly owned subsidiary, Dundee Resources Limited, it has acquired 840,000 common shares ("Shares") of Dundee Precious Metals Inc. (the "Issuer") at the price of $3.00 per Share for aggregate consideration of $2,520,000.
Immediately prior to the acquisition of securities described in this report, Dundee owned 35,541,552 Shares representing an approximate 25% interest in the Issuer. Immediately following the transaction that triggered the requirement to file this report, Dundee owns 36,381,552 Shares, representing an approximate 22.66% interest in the Issuer on an undiluted basis.
Dundee acquired the Shares of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the Issuer or may decide in the future to sell all or part of its investments.
For additional information, an early warning report can be found on SEDAR or may be obtained by contacting:
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About Dundee Corporation
Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.