Dundee Corporation Acquires Further Interest in Eurotin Inc.
July 27 2011 - 10:49AM
Marketwired
In accordance with regulatory requirements, Dundee Corporation
(TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) announced today that
pursuant to the previously announced private placement of Eurotin
Inc. ("Eurotin"), Dundee Corporation and an account advised by its
subsidiary, Ned Goodman Investment Counsel Limited (the "Account"),
have purchased an aggregate of 3,125,000 special warrants of
Eurotin (the "Special Warrants") at an issue price of $0.80 per
Special Warrant. Each Special Warrant is exercisable into one
common share in the capital of Eurotin (a "Common Share") and one
half of one Common Share purchase warrant (each whole Common Share
purchase warrant a "Warrant") at any time after the closing date
for no additional consideration. Each Warrant entitles the holder
to purchase one common share of the Company (a "Warrant Share") for
a period of 2 years at an exercise price of $1.20 per Warrant
Share.
In the aggregate, the position held by Dundee Corporation and
the Account represent an approximate 14.37% interest on issuance of
the Common Shares underlying the Special Warrants and an
approximate 18.53% interest upon exercise of all Warrants held.
The position in Eurotin 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 & Chief
Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot
Vice President & Chief Financial Officer (416) 365-5157
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