TORONTO, July 17, 2020 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) (“Dundee”) announces that, through its wholly owned subsidiary, Dundee Resources Limited it has sold 8,463,013 common shares (“Shares”) of Orford Mining Corporation (TSXV:ORM) (the “Issuer”) at a price of $0.09 per share for aggregate consideration of $761,671.
Immediately prior to the disposition of securities described in this news release, Dundee owned or controlled 12,975,577 common shares and warrants to purchase up to 289,992 common shares of the Issuer representing an approximate 13.63% interest in the Issuer on an undiluted basis and 13.90% on a partially diluted basis. Immediately following the transaction that triggered the requirement to file this news release, Dundee owns 4,512,564 common shares and warrants to purchase up to 289,992 common shares, representing an approximate 4.74% interest in the Issuer on an undiluted basis and 5.03% on a partially diluted basis.
Dundee disposed of the Shares of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase or sell securities of the Issuer.
For additional information, an early warning report will be filed on SEDAR or may be obtained by contacting:
1 Adelaide Street East, Suite 2000
Toronto, Ontario M5C 2V9
Tel: (416) 350-3388
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor and Media Relations for Dundee Corporation
T: (647) 402-6375