TORONTO, May 06, 2021 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) (“Dundee”) announces its ownership position in Magna Mining Inc. (the “Issuer”).
Dundee and its affiliates own or control 6,743,750 common shares and warrants exercisable for the purchase of 3,371,875 common shares of the Issuer representing 10.58% of the Issuer on an undiluted basis and 15.08% of the Issuer on a partially diluted basis.
Dundee’s ownership or control of securities of the Issuer are 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.
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. The early warning report respecting the acquisition will be 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:
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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
NATIONAL Public Relations
T: (416) 433-2801