Dundee Corporation Expands Its Shareholding in Bulgold Inc.
Dundee Corporation Expands Its Shareholding in Bulgold Inc.
In a strategic move, Dundee Corporation (TSX: DC.A) has increased its stake in Bulgold Inc. This acquisition was conducted through its wholly owned subsidiary, Dundee Resources Limited, which has successfully bought 1,454,553 common shares at a price of C$0.05 per share. The total investment amounts to an aggregate consideration of C$72,727.65.
Current Ownership and Stake Overview
Before this recent acquisition, Dundee and its affiliates had already owned 3,253,967 common shares along with 833,333 warrants, reflecting a notable 11.79% interest in the Issuer when viewed on an undiluted basis. Post-acquisition, the company's holdings now stand at 4,708,520 common shares while maintaining the same number of warrants, which results in an adjusted ownership interest of approximately 9.58% undiluted and 11.09% partially diluted in Bulgold Inc.
Investment Intentions
Dundee's acquisition strategy is driven by the intention to create value and is strictly for investment purposes. The company is committed to continuously reviewing crucial factors affecting its investment decision, including the securities' pricing and availability, subsequent developments related to Bulgold or its business operations, as well as general economic and market conditions. This proactive strategy leaves room for possible future purchases or divestitures of their investment in Bulgold Inc.
Regulatory Compliance and Reporting
Following the acquisition, Dundee Corporation is complying with regulatory mandates, including issuing this news release under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, concerning the submission of an early warning report. This report will be accessible on the System for Electronic Document Analysis and Retrieval (SEDAR) for stakeholders wishing to understand the finer details of the acquisition.
About Dundee Corporation
Dundee Corporation is an independent Canadian holding company focused predominantly on the mining sector, listed on the Toronto Stock Exchange under the symbol “DC.A”. The Corporation's commitment lies in acquiring mineral resource projects while aiming to unlock value for its investors. The company employs a meticulous approach to assessment, conducting extensive due diligence to evaluate the geological, technical, environmental, and financial aspects of each project. By doing so, Dundee seeks to identify opportunities that promise favorable investment returns or fruitful partnerships within the mining industry.
Contact Information
For inquiries or more information, 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 significance of the acquisition by Dundee Corporation?
The acquisition expands Dundee Corporation's investment in Bulgold Inc., reflecting a strategic move towards enhancing its position in the mining sector.
How many shares of Bulgold Inc. did Dundee acquire?
Dundee Corporation acquired 1,454,553 common shares of Bulgold Inc.
What is the total amount invested by Dundee in Bulgold shares?
The total investment for the acquisition amounted to C$72,727.65.
How does this affect Dundee’s overall shareholding in Bulgold?
After the acquisition, Dundee Corporation's total ownership in Bulgold stands at 4,708,520 common shares.
Where can I find more information about the acquisition?
Details regarding the acquisition can be found in the early warning report filed on SEDAR under the Issuer’s profile.
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