TORONTO, Feb. 12, 2018 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A) (“Dundee”) announces that, through its wholly owned subsidiary, Dundee Resources Limited, it has sold 200,000 common shares (“Shares”) of PetroMaroc Corporation plc (the “Issuer”).
Immediately prior to the disposition of securities described in this news release, Dundee owned 13,475,804 Shares representing an approximate 12.38% interest in the Issuer on an undiluted basis. Immediately following the transaction that triggered the requirement to file this news release, Dundee owned 13,275,804 Shares, representing an approximate 12.20% interest in the Issuer on an undiluted basis. Dundee disposed of the Shares of the Issuer in an amount equal to more than 2% of the outstanding Shares of the Issuer from Dundee’s last reported position, thereby triggering the requirement to file an early warning report.
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 or sell securities of the Issuer.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated February 12, 2018. The early warning report respecting the disposition has been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com under the Issuer’s profile. To obtain a copy of the early warning report filed by Dundee, please contact:
Dundee Corporation
Legal Department
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
John Vincic
Investor and Media Relations
Dundee Corporation
(647) 402-6375
or
Lucie Presot
Executive Vice President and
Chief Financial Officer
Dundee Corporation
(416) 365-5157