Dundee Corporation

Dundee Corporation

April 21, 2011 17:40 ET

Dundee Corporation Acquires Interest in Leisure Canada Inc.

TORONTO, ONTARIO--(Marketwire - April 21, 2011) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee") announced today that it has acquired an aggregate of 6,171,500 common shares (each, a "Share") of Leisure Canada Inc. ("Leisure") at a price of $0.155 per Share. Concurrently, an account sub-advised by Ned Goodman Investment Counsel Limited, a wholly owned subsidiary of Dundee, has transferred to Dundee Corporation 14,290,000 Shares and 5,000,000 common share purchase warrants (each, a "Warrant") at an aggregate price of $2.2 million. Each Warrant entitles the holder to purchase one Share at an exercise price of $0.25. In the aggregate, these holdings represent an approximate 12.38% interest in Leisure on an undiluted basis and an approximate 14.96% interest assuming the conversion of all Warrants.

The position in Leisure 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