Dundee Corporation: Press Release
January 13 2011 - 6:12PM
Marketwired
In accordance with regulatory requirements, Dundee Corporation
(TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) ("Dundee" or the "Company")
announced today that accounts sub-advised by Ned Goodman Investment
Counsel Limited, a wholly owned subsidiary of Dundee, have acquired
an aggregate of 2,857,143 units (each a "Unit") of Lateegra Gold
Corp. ("Lateegra") pursuant to Lateegra's previously announced
private placement. Each Unit is comprised of one common share in
the capital of Lateegra ("Common Share") and one-half of one common
share purchase warrant (each a "Warrant"). Each Warrant entitles
the holder to purchase one Common Share at an exercise price of
$0.50 for a period of one year from the date of closing. This
represents an approximate 6.74% interest in Lateegra on an
undiluted basis or an approximate 9.77% interest assuming the
conversion of all Warrants acquired by Ned Goodman Investment
Counsel pursuant to the transaction.
These holdings, together with 1,250,000 Common Shares and
625,000 Warrants previously acquired by a subsidiary of Dundee,
represent an approximate aggregate 9.68% interest in Lateegra on an
undiluted basis or an approximate 13.85% interest assuming the
conversion of all Warrants.
The position in Lateegra 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.
ABOUT DUNDEE CORPORATION
Dundee Corporation is an asset management company dedicated to
wealth management, real estate and resources that, combined,
reflect approximately $87 billion under management and
administration. Its domestic wealth management activities are
carried out through its 60% controlled subsidiary, DundeeWealth
Inc. Dundee Corporation's real estate activities are conducted
through its 70% owned subsidiary, Dundee Realty Corporation, which
operates as an asset manager of commercial real estate with
activities in a land and housing business in Canada and the United
States. Resource activities are carried out through its
wholly-owned subsidiary, Dundee Resources Limited. Asset management
activities are carried out through Ned Goodman Investment Counsel
Limited and Dundee Real Estate Asset Management (DREAM).
Contacts: 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
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