Dundee Corporation Takes Strategic Steps in Maritime Resources
Dundee Corporation, a prominent Canadian holding company, has made a significant investment to strengthen its position in the mining sector. This strategic move is highlighted by its recent acquisition of a large number of shares from Maritime Resources Corp., which marks an important development for both Dundee and its partners.
Details of the Acquisition
According to the announcement, Dundee's fully owned subsidiary, Dundee Resources Limited, has purchased an impressive 47,000,000 common shares of Maritime Resources Corp. at a price of $0.034 per share. This totals an investment of C$1,598,000. This strategic purchase enhances Dundee's substantial existing stake in the issuer.
Shareholding Impact
Before this acquisition, Dundee Corporation and its affiliates held 312,967,123 common shares and had warrants totaling 53,961,033. This ownership equated to approximately 37.66% on an undiluted basis, and an even larger 41.46% when accounting for potential dilution. Following the latest transaction, Dundee's interest grows significantly, boasting control over 359,967,123 shares, which now represents around 43.32% undiluted and 46.77% when partially diluted.
Investment Intentions
Dundee views this acquisition as a long-term investment. The company intends to regularly assess factors that may influence its stake, including market dynamics, Maritime Resources' performance, and shifts in the broader economic environment. This strategy underscores Dundee's commitment to enhancing the value of its investments while remaining adaptable to changing market conditions.
Long-term Strategy in Mining
Dundee Corporation has a rich history of successfully navigating the mining industry. With over 30 years of experience, it has established itself as a reliable partner focused on making investment decisions that promote sustainable growth and value creation. This recent acquisition illustrates Dundee's dedication to strengthening its role in the industry while uncovering new opportunities.
Regulatory Compliance
This announcement adheres to National Instrument 62-103, ensuring all required disclosures are made to uphold transparency. An early warning report concerning the acquisition will be accessible on the System for Electronic Document Analysis and Retrieval (SEDAR), allowing investors interested in further information to remain updated.
About Dundee Corporation
Dundee Corporation operates as a public independent holding company listed on the Toronto Stock Exchange (TSX) under the symbol "DC.A". The company emphasizes active investments in the mining sector, committed to creating long-term value through strategic partnerships and careful investment decisions. This latest acquisition serves as evidence of its proactive market approach.
Contact Information
If you have questions about this investment or would like more information about Dundee Corporation, please contact:
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 purchased 47,000,000 shares of Maritime Resources Corp. for investment purposes, significantly increasing its stake.
How much did Dundee Corporation invest in Maritime Resources?
The total amount invested by Dundee Corporation for the shares acquired is C$1,598,000.
What percentage of Maritime Resources does Dundee now own?
After the acquisition, Dundee now holds approximately 43.32% of Maritime Resources on an undiluted basis.
What is Dundee Corporation's approach to investments?
Dundee Corporation continually reviews its investments based on market conditions, with the aim of achieving sustainable value over time.
Where can one find further details about the acquisition?
An early warning report related to this acquisition will be filed on SEDAR for anyone seeking additional information.
