Dundee Corporation Expands Investment in Maritime Resources Corp.
Dundee Corporation Expands Investment in Maritime Resources Corp.
In a significant development, Dundee Corporation (TSX: DC.A) has made a strategic acquisition of 47,000,000 common shares of Maritime Resources Corp. at a price of $0.034 per share, leading to an overall investment of C$1,598,000. This move is not just a financial transaction but a step towards reinforcing Dundee's commitment to growing in the mining and resource sector.
Acquisition Details
Prior to this acquisition, Dundee and its affiliates controlled 312,967,123 common shares and held 53,961,033 warrants for Maritime Resources Corp., constituting an approximately 37.66% stake on an undiluted basis. After this latest acquisition, Dundee now holds an impressive total of 359,967,123 common shares, representing a 43.32% interest in Maritime on an undiluted basis and a 46.77% interest on a partially diluted basis.
Strategic Intent Behind the Acquisition
Dundee's acquisition of the common shares is primarily for investment purposes, demonstrating its dedication to long-term growth in the mining sector. The company plans to continuously evaluate its investment based on factors such as market conditions, the performance of Maritime Resources, and any significant developments that could affect the company.
Regulatory Compliance and Reporting
This acquisition has been disclosed in accordance with National Instrument 62-103, which pertains to the Early Warning System and related reporting of take-over bids and insider trading. Dundee will file an early warning report, which will be accessible via the System for Electronic Document Analysis and Retrieval (SEDAR). Interested parties can view this report under Maritime Resources Corp.'s profile to gather further insights into the transaction.
Contact Information
If you require any additional information regarding this acquisition or other inquiries, you can reach out to Dundee Corporation's Legal Department directly. Here are the contact details:
Dundee Corporation
Legal Department
80 Richmond Street West, Suite 2000
Toronto, Ontario M5H 2A4
Tel: (416) 365-5172
About Dundee Corporation
Dundee Corporation is a public independent holding company based in Canada, prominently listed on the Toronto Stock Exchange under the ticker symbol DC.A. With over three decades of experience, Dundee positions itself as a proactive investor dedicated to maximizing value within the mining sector through strategic partnerships and investments. Its focus on sustainable growth highlights its role as a trusted entity in the industry.
Frequently Asked Questions
What recent acquisition did Dundee Corporation make?
Dundee Corporation acquired 47,000,000 common shares of Maritime Resources Corp. for C$1,598,000.
Why did Dundee Corporation make this acquisition?
The acquisition was for investment purposes, reflecting Dundee’s strategy to strengthen its position in the mining sector.
What percentage of Maritime Resources Corp. does Dundee now own?
After the acquisition, Dundee owns approximately 43.32% of Maritime Resources on an undiluted basis.
Where can I find more information about the acquisition?
The details of the acquisition will be filed on SEDAR under Maritime Resources Corp.'s profile.
How can I contact Dundee Corporation for more information?
You can contact Dundee Corporation's Legal Department at (416) 365-5172.
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