Dundee Corporation
TSX : DC.A

Dundee Corporation

September 22, 2014 10:25 ET

Dundee Corporation and United Hydrocarbon International Announce the Engagement of Wells Fargo and Goodman Merchant Capital as Financial Advisors for Exploration and Development Project in Chad

TORONTO, ONTARIO--(Marketwired - Sept. 22, 2014) - Dundee Corporation ("Dundee") (TSX:DC.A) and United Hydrocarbon International Corp. ("United") are pleased to announce that United has engaged Wells Fargo Securities, LLC and Goodman Merchant Capital Inc. as financial advisors in conjunction with the raising of up to US$250 million pursuant to a private placement, the proceeds of which will be deployed by United in connection with its ongoing oil-focused exploration and development programs in Chad.

Bruce Sherley, President of United, commented: "United is pleased to team up with Wells Fargo and Goodman Merchant Capital to raise equity to further our exploration and development work in Chad. The financial expertise offered by Wells Fargo and Goodman Merchant Capital, combined with the development and operating team at United will enhance our ability to bring our Doba Basin and Lake Chad projects to production."

This press release is not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. United does not intend to register any portion of any offering of securities under the Securities Act in the United States or to conduct a Public Offering of securities in the United States. Copies of this release are not being, and should not be, distributed or sent in the United States.

ABOUT DUNDEE

Dundee is a public Canadian independent holding company listed on the Toronto Stock Exchange under the symbol "DC.A". Through its operating subsidiaries, Dundee 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 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.

ABOUT UNITED

United Hydrocarbon International Corp is a private Canadian based company. United has a 100% working interest and is the operator of a production sharing contract ("PSC") in Chad through its wholly owned subsidiary, United Hydrocarbon Chad Ltd. in two, world class, oil bearing rift basins. The PSC includes four existing oil discoveries in four separate blocks of land that cover 5.3 million acres. United's directors and management team have successful track records identifying, acquiring, financing and operating onshore oil and gas assets internationally.

This press release contains "forward-looking statements" within the meaning of applicable securities laws that are intended to be covered by the safe harbours created by those laws, including statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential", or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements may include, without limitation, statements regarding the completion of the proposed financing and other statements that are not historical facts. While such forward-looking statements are expressed by Dundee and United as stated in this release, in good faith and believed to have a reasonable basis, they are subject to important risks and uncertainties including, without limitation, the negotiation and completion of definitive agreements relating to the financing, technical and geological risk, the amount and timing of capital expenditures and the ability to finance those expenditures, changes in applicable laws or regulations, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. As a result of these risks and uncertainties, the proposed financing could be modified, restructured or not be completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Neither Dundee nor United affirm or adopt any statements made by any other person in respect of the proposed financing and each expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws or to comment on expectations of, or statements made by any other person in respect of the proposed financing. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Reliance on forward-looking statements is at the investors' own risk.

Contact Information

  • Dundee Corporation
    David Goodman
    President and Chief Executive Officer
    416-365-2571

    United Hydrocarbon International Corp.
    Bruce Sherley
    President
    403-774-9900