Dundee Corporation Acquires Interest in Merc International Minerals Inc.
09 March 2011 - 1:26AM
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, through a wholly-owned subsidiary, it has
acquired in a non-brokered private placement (the "Private
Placement"), 14,640,000 flow-through common shares ("Shares") of
Merc International Minerals Inc. ("Merc") at a price of $0.25 per
Share. Concurrently, an account managed by Ned Goodman Investment
Counsel Limited, a wholly-owned subsidiary of Dundee, has acquired
1,550,000 units ("Units") under the Private Placement at a price of
$0.20 per Unit. Each Unit is comprised of one common share in the
capital of Merc and one-half of one common share purchase warrant.
Each whole warrant entitles the holder to purchase one common share
at an exercise price of $0.35 per common share for a period of two
years from the closing date. In the aggregate, these holdings
represent an approximate 18.86% interest in Merc on an undiluted
basis or an approximate 19.59% on a partially diluted basis.
The position in Merc 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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