TORONTO, Nov. 24, 2017 (GLOBE NEWSWIRE) — In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) announces that, through its wholly owned subsidiary, Dundee Agricultural Corporation, it has acquired 1,250,000 common shares (“Shares”) of Xylitol Canada Inc. (the “Issuer”) at the price of $0.12 per Share for aggregate consideration of $150,000.
Immediately prior to the acquisition of securities described in this report, Dundee owned 5,130,380 Shares, $588,000 in principal amount of convertible debentures which are convertible into 1,176,000 Shares and purchase warrants exercisable for the purchase of 676,000 Shares, representing an approximate 11.7% interest in the Issuer on an undiluted basis and a 15.3% interest on a partially diluted basis. Immediately following the transaction that triggered the requirement to file this report, Dundee owns 6,380,380 Shares, $588,000 in principal amount of convertible debentures which are convertible into 1,176,000 Shares and purchase warrants exercisable for the purchase of 676,000 Shares, representing an approximate 12.3% interest in the Issuer on an undiluted basis and a 15.3% interest on a partially diluted basis.
Dundee acquired the Shares of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer 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 Issuer 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:
1 Adelaide Street East, Suite 2100
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.
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