Dundee Corporation Expands Stake in Odyssey Resources Limited
In a strategic move to enhance its investment portfolio, Dundee Corporation (TSX: DC.A) has recently announced that its wholly owned subsidiary, Dundee Resources Limited, has made an acquisition of 2,000,000 common shares of Odyssey Resources Limited. This transaction, valued at C$100,000, reflects Dundee's ongoing commitment to increasing its involvement in promising mining ventures.
Details of the Acquisition
Prior to this latest acquisition, Dundee Corporation, along with its affiliates, held 11,366,136 common shares in Odyssey, which constituted an approximate 31.37% interest in the company on an undiluted basis. Following the completion of this transaction, their total ownership rises to 13,366,136 common shares, equating to an estimated 34.96% interest, underscoring Dundee's growing influence within Odyssey Resources Limited.
Investment Intentions
The primary objective behind Dundee’s stake in Odyssey is investment-driven. This acquisition is part of a broader strategy where Dundee continuously evaluates various aspects of its investments including share price movements, the availability of additional shares, and any external factors affecting the market and operational dynamics of Odyssey Resources. This holistic approach reflects Dundee's prudent strategy of staying aligned with market trends while focusing on long-term value creation.
Continuous Monitoring of Investments
Dundee Corporation's investment team remains vigilant, periodically reassessing market conditions and operational developments concerning Odyssey. Future actions could involve purchasing additional shares or adjusting their holdings based on emerging insights and performance indicators within the mining sector. This flexibility ensures that Dundee adapts swiftly to market changes while maximizing its investment benefits.
Regulatory Compliance and Reporting
This announcement is made in adherence to National Instrument 62-103, which governs the early warning system and related reporting for take-over bids and insider transactions. In alignment with this regulatory framework, an early warning report will be filed that provides further details on the acquisition. Investors can access this report via the System for Electronic Document Analysis and Retrieval (SEDAR), ensuring transparency and compliance with regulatory mandates.
About Dundee Corporation
Dundee Corporation stands as a pillar in the Canadian investment landscape, listed on the Toronto Stock Exchange under the symbol “DC.A”. Over its 30 years of operation, Dundee has carved a niche as a resilient holding company focused on sustainable investments in the mining sector. Its extensive experience and commitment to responsible investment practices establish it as a trusted partner and a proactive player in the industry.
Connecting with Dundee Corporation
For those wishing to garner more insights or seek further information regarding Dundee Corporation, the investor and media relations team is readily accessible. Interested parties can reach out via telephone at (416) 864-3584 or email at ir@dundeecorporation.com.
Frequently Asked Questions
What is the purpose of Dundee Corporation's acquisition of shares?
The acquisition focuses on enhancing Dundee's investment in mining by increasing its ownership in Odyssey Resources Limited.
How many shares did Dundee recently acquire from Odyssey Resources?
Dundee Corporation acquired 2,000,000 common shares of Odyssey Resources Limited in this transaction.
What percentage of ownership does Dundee hold after the acquisition?
Post-acquisition, Dundee and its affiliates hold an approximate 34.96% interest in Odyssey Resources Limited.
How does Dundee Corporation evaluate its investments?
Dundee constantly monitors various factors, including market conditions and the performance of Odyssey, to inform their investment decisions.
Where can I access more information about the acquisition?
Further details are available in an early warning report filed on SEDAR under Odyssey Resources Limited's profile.
