Dundee Corporation Boosts Its Investment in Maritime Resources Corp.
In a notable move, Dundee Corporation (TSX: DC.A) has acquired 47,000,000 common shares of Maritime Resources Corp. at a price of $0.034 per share. This results in a total investment of C$1,598,000. This isn't merely a financial transaction; it's part of Dundee's ongoing commitment to expand within the mining and resource sectors.
Details of the Acquisition
Before this recent acquisition, Dundee and its affiliates held control over 312,967,123 common shares and possessed 53,961,033 warrants for Maritime Resources Corp., giving them about a 37.66% stake on an undiluted basis. Following this latest investment, Dundee now boasts a total of 359,967,123 common shares, translating to a 43.32% interest in Maritime on an undiluted basis, which goes up to 46.77% when considering the partially diluted basis.
Strategic Rationale for the Purchase
Dundee's acquisition of common shares primarily serves as an investment strategy, showcasing its commitment to sustained growth in the mining sector. The company intends to regularly assess its investment based on various factors, including market conditions, the performance of Maritime Resources, and any important developments that might impact the company.
Compliance with Regulations and Reporting
This acquisition has been reported in accordance with National Instrument 62-103, which addresses the Early Warning System and relevant reporting regarding take-over bids and insider trading. Dundee will submit an early warning report, which will be available through the System for Electronic Document Analysis and Retrieval (SEDAR). Interested individuals can access this report by looking up Maritime Resources Corp.'s profile for more detailed information about the transaction.
How to Contact Us
If you need further information regarding this acquisition or have other inquiries, feel free to 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 publicly traded independent holding company based in Canada, listed on the Toronto Stock Exchange under the ticker symbol DC.A. With over thirty years of experience, Dundee positions itself as a proactive investor, focused on maximizing value in the mining sector through strategic partnerships and investments. Its commitment to sustainable growth reflects its position as a reliable 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 primarily for investment purposes, illustrating Dundee's aim to strengthen its foothold 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?
You can find the details of the acquisition filed on SEDAR under the profile of Maritime Resources Corp.
How can I contact Dundee Corporation for more information?
You can reach out to Dundee Corporation's Legal Department at (416) 365-5172.
