Dundee Corporation Acquires Interest in Highland Resources Inc.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 05/30/12 -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) ("Dundee") announced today that its wholly owned subsidiary, Dundee Resources Limited, has acquired in a private placement, 52,500,000 units (each a "Unit") of Highland Resources Inc. ("Highland") at a price of $0.08 per Unit. Concurrently, an account advised by Ned Goodman Investment Counsel Limited, a wholly-owned subsidiary of Dundee, has acquired 12,500,000 Units. Each Unit comprises one common share in the capital of Highland ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.15 for a period of 24 months from the date of closing. In aggregate, these holdings represent an approximate 28.36% interest in Highland on an undiluted basis or an approximate 44.19% interest assuming the conversion of all Warrants.
The position in Highland was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
Contacts:
Dundee Corporation
Ned Goodman
President and Chief Executive Officer
(416) 365-5665
Dundee Corporation
Lucie Presot
Vice President and Chief Financial Officer
(416) 365-5157
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Datum: 30.05.2012 - 12:48 Uhr
Sprache: Deutsch
News-ID 151222
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Personal Finance
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