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Dundee acquires 13.85% stake in American Vanadium
2013-10-01 15:26 ET - News Release
See News Release (C-DC) Dundee Corp
Mr. Ned Goodman of Dundee reports
DUNDEE CORPORATION ACQUIRES INTEREST IN AMERICAN VANADIUM CORP.
In accordance with regulatory requirements, Dundee Corp. has acquired in a private placement six million units of American Vanadium Corp. at a price of 50 cents per unit. Each unit consists of one common share in the capital of American Vanadium, one-half of a warrant exercisable at 60 cents and one-half of a warrant exercisable at 80 cents. Each whole 60-cent warrant entitles the holder thereof to purchase one share at a price of 60 cents until March 30, 2014. Each whole 80-cent warrant entitles the holder thereof to purchase one share at a price of 80 cents until Sept. 30, 2015.
When aggregated with existing positions in American Vanadium controlled by Dundee, Dundee now owns or controls six million shares and warrants exercisable for the purchase of 6,403,226 shares, representing an approximate 13.85-per-cent interest on an undiluted basis and 24.95 per cent 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.
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