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TORONTO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (the "Corporation" or "Dundee") is pleased to announce that it has entered into an agreement with RBC Dominion Securities Inc. ("RBC") to sell 11,000,000 shares of G Mining Ventures Corp. (the "G Mining Shares") at a price of $8.85 per share to qualified purchasers, for net proceeds to Dundee of approximately $95,920,000. (the "Sale Transaction").
Upon closing of the Sale Transaction, Dundee will own 2,919,921 common shares of G Mining. Dundee has agreed with RBC that its remaining shares of G Mining will be subject to a 60-day lock-up period, subject to customary exceptions. Proceeds from the sale of the G Mining Shares will be available to the Corporation immediately.
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 an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector with more than 30 years of experience making accretive mining investments.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking information with respect to future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The reader is referred to the documents which the company files from time to time with applicable securities and regulatory authorities.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor and Media Relations
T: (416) 864-3584
E: ir@dundeecorporation.com
