Dundee Corporation Acquires Further Interest in Xylitol Canada Inc.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/12/16 -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) ("Dundee") announces that it has acquired, through a wholly owned subsidiary, a $250,000 secured convertible debenture, as part of a secured financing and a $250,000 unsecured convertible debenture, as part of an unsecured financing (together the "Debentures") of Xylitol Canada Inc. ("Xylitol"). The Debentures are convertible into common shares of Xylitol at a price of $0.10 per share. As part of the secured financing, Dundee received 2,500,000 warrants, each warrant being exercisable into one common share of Xylitol at $0.08 for a period of two years. As part of the unsecured financing, Dundee received 500,000 warrants, each warrant being exercisable into one common share of Xylitol at $0.15 for a period of 18 months.
Dundee currently owns or controls 25,651,901 common shares representing a 27.47% interest in Xylitol on an undiluted basis. Dundee has acquired convertible securities exercisable for an additional 8,000,000 common shares in the capital of Xylitol representing a 33.19% interest in Xylitol assuming conversion of the Debentures and Warrants.
The position in Xylitol was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
About Dundee Corporation
Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.
Contacts:
John Vincic
Media Relations
Dundee Corporation
(647) 402-6375
Lucie Presot
Executive Vice President and Chief Financial Officer
Dundee Corporation
(416) 365-5157
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Datum: 12.04.2016 - 15:01 Uhr
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News-ID 1427650
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