Dundee Resources Limited

November 04, 2009 17:08 ET

Dundee Resources Acquires Interest in Cogitore Resources Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2009) - In accordance with regulatory requirements, Dundee Resources Limited ("Dundee Resources" or the "Company") announced today that it has acquired, pursuant to a private transaction relating to the partial repayment of an outstanding loan, 1,000,000 common shares of Cogitore Resources Inc. ("Cogitore"), at a price of $0.28 per common share. In addition, affiliates of Dundee Resources own an aggregate of 4,707,143 common shares representing an approximate 9.35% interest in Cogitore. Following this transaction, Dundee Resources and its affiliates own an aggregate of 5,707,143 common shares representing an approximate 11.34% interest in Cogitore.

The position in Cogitore acquired by the Company is 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.

Dundee Resources is a wholly owned subsidiary of Dundee Corporation (TSX:DC.A) and carries out Dundee Corporation's resource investments and initiatives.

Contact Information

  • Dundee Resources Limited
    Ned Goodman
    (416) 365-5665
    Dundee Resources Limited
    Murray John
    President & Chief Executive Officer
    (416) 365-5645