Dundee Corporation Acquires Interest in Peregrine Diamonds Ltd.
05 March 2011 - 9:51AM
Marketwired
In accordance with regulatory requirements, Dundee Corporation
(TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) ("Dundee" or the "Company")
announced today that it has acquired, in a non-brokered private
placement (the "Private Placement"), 1,160,714 flow-through common
shares ("Shares") of Peregrine Diamonds Ltd. ("Peregrine") at a
price of $2.80 per Share. Concurrently, accounts sub-advised by Ned
Goodman Investment Counsel Limited ("NGIC"), a wholly owned
subsidiary of Dundee, have acquired an aggregate of 1,607,000
Shares of Peregrine at a price of $2.80 per Share under the Private
Placement. In the aggregate, these holdings represent an
approximate 2.86% interest in Peregrine.
In addition, accounts sub-advised by NGIC previously acquired
and continue to hold 15,340,000 common shares of Peregrine and
320,000 warrants which, together with the aggregate Shares acquired
by the Company and accounts sub-advised by NGIC under the Private
Placement, represent an approximate 18.69% interest in Peregrine on
an undiluted basis or an approximate 18.96% interest assuming the
conversion of all warrants.
The position in Peregrine 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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