Dundee Corporation Acquires Interest in Leisure Canada Inc.
April 21 2011 - 4:40PM
Marketwired
In accordance with regulatory requirements, Dundee Corporation
(TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) ("Dundee") announced today
that it has acquired an aggregate of 6,171,500 common shares (each,
a "Share") of Leisure Canada Inc. ("Leisure") at a price of $0.155
per Share. Concurrently, an account sub-advised by Ned Goodman
Investment Counsel Limited, a wholly owned subsidiary of Dundee,
has transferred to Dundee Corporation 14,290,000 Shares and
5,000,000 common share purchase warrants (each, a "Warrant") at an
aggregate price of $2.2 million. Each Warrant entitles the holder
to purchase one Share at an exercise price of $0.25. In the
aggregate, these holdings represent an approximate 12.38% interest
in Leisure on an undiluted basis and an approximate 14.96% interest
assuming the conversion of all Warrants.
The position in Leisure 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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