Dundee Corporation Enhances Stake in Maritime Resources Corp.
Dundee Corporation Takes Strategic Steps in Maritime Resources
Dundee Corporation, a well-known Canadian holding company, has made an important investment decision to enhance its position within the mining sector. This move comes through the recent acquisition of a substantial number of shares from Maritime Resources Corp., marking a pivotal moment for Dundee and its affiliates.
Details of the Acquisition
According to the announcement, Dundee's wholly owned subsidiary, Dundee Resources Limited, has acquired an impressive 47,000,000 common shares of Maritime Resources Corp. at a price of $0.034 per share. The total investment amounts to C$1,598,000. This strategic purchase strengthens Dundee's already significant shareholding in the issuer.
Shareholding Impact
Prior to this acquisition, Dundee Corporation and its affiliates owned 312,967,123 common shares and held warrants amounting to 53,961,033. This accounted for approximately 37.66% ownership on an undiluted basis and an even larger 41.46% when considering potential dilution. Following this recent transaction, Dundee's stake expands considerably, with control over 359,967,123 shares, now making up approximately 43.32% undiluted and 46.77% when partially diluted.
Investment Intentions
Dundee's acquisition is positioned primarily as a long-term investment. The company plans to continually evaluate various factors affecting its stake, including market conditions, the performance of Maritime Resources, and changes in the overall economic landscape. This approach reflects Dundee's commitment to maximizing the value of its investments while maintaining flexibility as market conditions evolve.
Long-term Strategy in Mining
Dundee Corporation has a storied history of navigating the mining sector effectively. With over three decades of experience, it has built a reputation as a trusted partner in making investment decisions that prioritize sustainable growth and value creation. This recent acquisition highlights Dundee's dedication to fortifying its position in the industry while identifying promising opportunities.
Regulatory Compliance
This announcement is in compliance with National Instrument 62-103, ensuring that all necessary disclosures are made to maintain transparency. An early warning report regarding the acquisition will be available on the System for Electronic Document Analysis and Retrieval (SEDAR), empowering investors interested in further details to stay informed.
About Dundee Corporation
Dundee Corporation operates as a public independent holding company on the Toronto Stock Exchange (TSX) under the symbol "DC.A". The corporation focuses on active investments within the mining sector, committed to long-term value creation through strategic partnerships and thoughtful investment choices. This latest acquisition serves as a testament to its proactive approach in the market.
Contact Information
For inquiries regarding this investment or further information about Dundee Corporation, please reach out to:
Dundee Corporation
Legal Department
80 Richmond Street West, Suite 2000
Toronto, Ontario M5H 2A4
Tel: (416) 365-5172
Frequently Asked Questions
What is the nature of Dundee Corporation's recent acquisition?
Dundee Corporation has acquired 47,000,000 shares of Maritime Resources Corp. for investment purposes, enhancing its stake significantly.
How much did Dundee Corporation invest in Maritime Resources?
The total investment made by Dundee Corporation is C$1,598,000 for the shares acquired.
What percentage of Maritime Resources does Dundee now own?
Following the acquisition, Dundee owns approximately 43.32% of Maritime Resources on an undiluted basis.
What is Dundee Corporation's approach to investments?
Dundee Corporation continually evaluates its investments based on market conditions, aiming for sustainable value over time.
Where can one find further details about the acquisition?
An early warning report regarding this acquisition will be filed on SEDAR for those looking for additional insights.
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