Dundee Corporation Acquires Interest in Rencore Resources Ltd.
May 31 2011 - 5:12PM
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 it has acquired, in a private placement,
4,081,633 units (each a "Unit") of Rencore Resources Ltd. ("Rencore
Resources") at a price of $0.245 per Unit. Each Unit is comprised
of one common share in the capital of Rencore Resources (each a
"Common Share") and one-half of one common share purchase warrant
(each a "Warrant"). Each whole Warrant entitles the holder to
purchase one Common Share at an exercise price of $0.41 for a
period of 24 months from the date of closing. This holding
represents an approximate 14.13% interest in Rencore Resources on
an undiluted basis or an approximate 19.80% interest assuming the
conversion of all Warrants.
The position in Rencore Resources 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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