Press release from Marketwire
Dundee Corporation Acquires Interest in Formation Metals Inc.
Friday, March 11, 2011
Dundee Corporation Acquires Interest in Formation Metals Inc.17:01 EST Friday, March 11, 2011TORONTO, ONTARIO--(Marketwire - March 11, 2011) - 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, pursuant to a short form prospectus offering, 11,667,000 units ("Units") of Formation Metals Inc. ("Formation Metals") at a price of $1.50 per Unit. Each Unit is comprised of one common share in the capital of Formation Metals (a "Common Share") and one half of one Common Share purchase warrant. Each whole Common Share purchase warrant (a "Warrant") entitles the holder to purchase one Common Share for 36 months at a price of $2.00. These holdings represent an approximate 12.92% interest in Formation Metals on an undiluted basis or an approximate 18.21% interest assuming the conversion of all Warrants.The position in Formation Metals 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.FOR FURTHER INFORMATION PLEASE CONTACT: Ned GoodmanDundee CorporationPresident and Chief Executive Officer(416) 365-5665ORLucie PresotDundee CorporationVice President and Chief Financial Officer(416) 365-5157