TORONTO, June 03, 2019 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) (“Dundee”) announces that its wholly owned subsidiary, Dundee Resources Limited, purchased 11,000,000 units (“HD Units”) of ALX Uranium Corp. (the “Company”) pursuant to a private placement (“Private Placement”) at the price of $0.055 per HD Unit for aggregate consideration of $605,000. Each HD Unit is comprised of one common share (“Common Share”) of the Company and one warrant (“Warrant”). Each Warrant is exercisable for one Common Share at the price of $0.10 for a period of two years.
Concurrently, Dundee’s affiliate, Goodman & Company, Investment Counsel Inc. (“GCIC”), on behalf of managed accounts, acquired 6,670,000 flow-through units (“FT Units”) of the Company pursuant to the Private Placement at the price of $0.06 each for aggregate consideration of $400,200. Each FT Unit is comprised of one Common Share and one Warrant.
Dundee Goodman Merchant Partners, a division of GCIC, acted as finder under the Private Placement and earned 1,512,480 finder’s warrants (“Finder’s Warrants”). Each Finder’s Warrant is exercisable to purchase one Common Share at a purchase price of $0.06 for a period of two years.
Immediately prior to the acquisition of securities described in this news release, Dundee owned or controlled nil securities of the Company. Immediately following the acquisition of securities described in this report, Dundee owned or controlled 17,670,000 Common Shares and warrants exercisable for the purchase of 19,182,480 Common Shares, representing an approximate 15.64% interest on an undiluted basis and 27.88% interest on a partially diluted basis.
Dundee acquired the securities of the Company for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including the price and availability of the securities of the Company, subsequent developments affecting the Company or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the Company or may decide in the future to sell all or part of its investment.
For additional information, an early warning report can be found on SEDAR or may be obtained by contacting:
Dundee Corporation
Legal Department
1 Adelaide Street East, Suite 2000
Toronto, Ontario M5C 2V9
Tel: (416) 350-3388
About Dundee Corporation
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
FOR FURTHER INFORMATION PLEASE CONTACT:
John Vincic
Investor and Media Relations
Dundee Corporation
(647) 402-6375
