Dundee Corporation

Dundee Corporation

July 27, 2011 11:49 ET

Dundee Corporation Acquires Further Interest in Eurotin Inc.

TORONTO, ONTARIO--(Marketwire - July 27, 2011) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) announced today that pursuant to the previously announced private placement of Eurotin Inc. ("Eurotin"), Dundee Corporation and an account advised by its subsidiary, Ned Goodman Investment Counsel Limited (the "Account"), have purchased an aggregate of 3,125,000 special warrants of Eurotin (the "Special Warrants") at an issue price of $0.80 per Special Warrant. Each Special Warrant is exercisable into one common share in the capital of Eurotin (a "Common Share") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant a "Warrant") at any time after the closing date for no additional consideration. Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") for a period of 2 years at an exercise price of $1.20 per Warrant Share.

In the aggregate, the position held by Dundee Corporation and the Account represent an approximate 14.37% interest on issuance of the Common Shares underlying the Special Warrants and an approximate 18.53% interest upon exercise of all Warrants held.

The position in Eurotin 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.

Contact Information

  • Dundee Corporation
    Ned Goodman
    President & Chief Executive Officer
    (416) 365-5665

    Dundee Corporation
    Lucie Presot
    Vice President & Chief Financial Officer
    (416) 365-5157