TORONTO, Oct. 25, 2017 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) (“Dundee”) announces that pursuant to the completed Qualifying Transaction of Orford Mining Corporation (“Orford”) with True North Nickel Inc. under the provisions of the TSX Venture Exchange Policy 2.4, Dundee through its wholly owned subsidiaries, has received 11,815,607 common shares and 2,000,000 warrants of Orford. Each warrant entitles the holder to acquire, on payment of $0.75, one common share in the capital of Orford.
Immediately prior to the acquisition of securities described in this report, Dundee owned indirectly 854,700 common shares representing an approximate 53.33% interest in Orford. Immediately following the transaction that triggered the requirement to file this report, Dundee owns indirectly 11,815,607 common shares and 2,000,000 warrants, representing an approximate 28.88% interest in Orford on an undiluted basis and a 32.20% interest on a partially diluted basis.
Dundee acquired the securities of Orford for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to and subject to applicable TSX Venture Exchange escrow requirements) the price and availability of the securities of Orford, subsequent developments affecting Orford or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of Orford or may decide in the future to sell all or part of its investment.
For additional information, an early warning report can be found on SEDAR or may be obtained by contacting:
Dundee Corporation
Legal Department
1 Adelaide Street East, Suite 2100
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:
John Vincic
Investor and Media Relations
Dundee Corporation
(647) 402-6375
Lucie Presot
Executive Vice President and
Chief Financial Officer
Dundee Corporation
(416) 365-5157