Dundee Corporation Acquires Interest in Formation Metals Inc.
March 11 2011 - 4:01PM
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 it has acquired, pursuant to a short form
prospectus offering, 11,667,000 units ("Units") of Formation Metals
Inc. ("Formation Metals") at a price of $1.50 per Unit. Each Unit
is comprised of one common share in the capital of Formation Metals
(a "Common Share") and one half of one Common Share purchase
warrant. Each whole Common Share purchase warrant (a "Warrant")
entitles the holder to purchase one Common Share for 36 months at a
price of $2.00. These holdings represent an approximate 12.92%
interest in Formation Metals on an undiluted basis or an
approximate 18.21% interest assuming the conversion of all
Warrants.
The position in Formation Metals 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.
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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