Dundee Corporation Finalizes Successful Sale of TauRx Shares
Dundee Corporation Concludes Sale of TauRx Shares
Dundee Corporation (TSX: DC) recently announced a successful transaction involving the sale of 8,000 shares of TauRx Pharmaceuticals Ltd. for a total of US$1 million. This significant move follows the completion of the necessary board approval that the company secured from TauRx. The shares were sold to a private investor at a price of US$125 each, marking a notable achievement for Dundee in its investment journey.
Current Shareholding in TauRx
Despite this transaction, Dundee Corporation remains a substantial stakeholder in TauRx, continuing to hold over 1 million shares, thus reinforcing its commitment to the biotech company. This proactive approach illustrates Dundee's strategy of maintaining a diversified investment portfolio while optimizing its liquidity.
About Dundee Corporation
Dundee Corporation stands out as a prominent independent holding company in Canada and is publicly listed on the Toronto Stock Exchange under the ticker symbol “DC.A”. With more than three decades of expertise, Dundee operates through various subsidiaries and focuses on long-term sustainable investments primarily within the mining sector.
Commitment to Sustainable Value Creation
The ethos of Dundee Corporation lies in its dedication to delivering lasting value as a reliable partner. The company’s extensive experience in making significant investments in the mining industry highlights its ability to navigate complex market dynamics effectively. This transaction signifies Dundee’s strategy of enhancing shareholder value through prudent investment choices.
Investor Relations and Further Information
For those seeking more information about Dundee Corporation or the recent sale, the investor relations team is readily available. Engaging with stakeholders is a vital aspect of their operation, and potential inquiries can be directed to:
Investor and Media Relations
T: (416) 864-3584
E: ir@dundeecorporation.com
Frequently Asked Questions
What prompted Dundee Corporation to sell its shares in TauRx?
The sale aligned with Dundee’s strategy to optimize liquidity while maintaining a meaningful investment in TauRx.
What will Dundee do with the proceeds from the sale?
The proceeds will likely be reinvested to support further growth initiatives within its portfolio.
How does this sale affect Dundee's stake in TauRx?
Dundee continues to hold over 1 million shares in TauRx, ensuring a substantial ongoing investment.
What is Dundee Corporation's primary focus?
Dundee Corporation primarily focuses on investments in the mining sector, aiming for sustainable long-term growth.
Where can investors find more information about Dundee Corporation?
Investors can reach out to the investor relations team or visit the official website for more details about company activities and performance.
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