Press release from Marketwire
Dundee Corporation Acquires Interest in American Vanadium Corp.
Tuesday, October 01, 2013
Dundee Corporation Acquires Interest in American Vanadium Corp.15:08 EDT Tuesday, October 01, 2013
TORONTO, ONTARIO--(Marketwired - Oct. 1, 2013) - In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) ("Dundee") announces that it has acquired in a private placement, 6,000,000 units ("Units") of American Vanadium Corp. ("American Vanadium") at a price of $0.50 per Unit. Each Unit consists of one common share ("Share") in the capital of American Vanadium, one half of a warrant exercisable at $0.60 ("$0.60 Warrant") and one half of a warrant exercisable at $0.80 ("$0.80 Warrant"). Each whole $0.60 Warrant entitles the holder thereof to purchase one Share at a price of $0.60 until March 30, 2014. Each whole $0.80 Warrant entitles the holder thereof to purchase one Share at a price of $0.80 until September 30, 2015.
When aggregated with existing positions in American Vanadium controlled by Dundee, Dundee now owns or controls 6,000,000 Shares and warrants exercisable for the purchase of 6,403,226 Shares representing an approximate 13.85% interest on an undiluted basis and 24.95% assuming the conversion of all Warrants.
The position in American Vanadium 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.
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange ("TSX") under the symbol "DC.A". Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and Chief Executive Officer
Vice President and Chief Financial Officer