DundeeWealth Inc.

DundeeWealth Inc.

March 13, 2007 09:25 ET

Dundee Wealth Completes $150 Million Preference Share Offering

TORONTO, ONTARIO--(CCNMatthews - March 13, 2007) - Dundee Wealth Management Inc. (TSX:DW)(TSX:DW.PR.A)

Not for distribution to United States newswire services or for dissemination in the United States

Dundee Wealth Management Inc. ("Dundee Wealth") listed on the TSX under the symbol "DW" announced today the successful completion and closing of an offering of $150 million of first preference shares.

The 6,000,000 4.75% Cumulative Redeemable First Preference Shares, Series 1 were priced at $25.00 and carry a 4.75% annual dividend. The shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol "DW.PR.A".

Dundee Wealth will use the net proceeds of the offering to partially replace funds used to pay the cash portion of the purchase price paid on February 22, 2007 pursuant to Dundee Wealth's previously- announced purchase of the 16.3% minority interest in its subsidiary DWM Inc. held by the Caisse de depot et placement du Quebec. DWM is a private company which is now owned 100% by Dundee Wealth and which holds all of the assets of Dundee Wealth.

The offering was completed on a bought deal basis by an underwriting group co-led by Scotia Capital Inc. and Dundee Securities Corporation and including CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., GMP Securities L.P., Genuity Capital Markets G.P. and Westwind Partners Inc.

Dundee Wealth is a Canadian owned wealth management company. Through its various subsidiaries, including Dundee Bank of Canada, a Schedule I chartered bank, Dundee Wealth creates and provides investment solutions as well as capital markets and advisory services for financial advisors, institutions, corporations and foundations. Dundee Wealth oversees $60.1 billion in assets under management and administration through independent financial advisors across Canada.

Contact Information

  • Dundee Wealth
    Ned Goodman
    President & Chief Executive Officer
    (416) 365-5665
    Dundee Wealth
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010