Dundee Corporation

Dundee Corporation

March 12, 2012 12:00 ET

Dundee Corporation Acquires Interest in Agrimarine Holdings Inc.

TORONTO, ONTARIO--(Marketwire - March 12, 2012) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) announced today that it has acquired, in a private placement, 15,000,000 units (each a "Unit") of Agrimarine Holdings Inc. ("Agrimarine") at a price of $0.20 per Unit. Each Unit is comprised of one common share in the capital of Agrimarine ("Common Share") and one-half of one common share purchase warrant (each a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at an exercise price of $0.30 for a period of 24 months from the date of closing. This holding represents an approximate 13.86% interest in Agrimarine on an undiluted basis or an approximate 19.44% interest assuming the conversion of all Warrants.

The position in Agrimarine 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 and Chief Executive Officer
    (416) 365-5665

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