|By Marketwired .||
|March 7, 2014 05:27 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 03/07/14 -- In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) ("Dundee") announces that it has acquired 10,000,000 units of American Vanadium Corp. ("American Vanadium") at a price of CDN$0.40 per unit (a "Unit"). Each Unit consists of one common share in the capital of American Vanadium (a "Common Share") and one-half of one warrant exercisable at $0.60 ("Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $0.60 until March 6, 2016.
When aggregated with existing positions owned or controlled by Dundee, Dundee now owns 16,000,000 common shares and warrants exercisable for the purchase of an additional 11,445,226 Common Shares representing an approximate 28% interest on an undiluted basis and 40% assuming the exercise 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.
President and Chief Executive Officer
Vice President and Chief Financial Officer