Dundee Corporation Acquires Interest in Creso Exploration Inc.
December 24 2012 - 8:49AM
Marketwired Canada
In accordance with regulatory requirements, Dundee Corporation (TSX:DC.A)
("Dundee") announces that it has acquired, in a private placement, 3,000,000
units ("HD Units") of Creso Exploration Inc. ("Creso") at a price of $0.05 per
HD Unit. Each HD Unit consists of one common share in the capital of Creso and
one whole common share purchase warrant ("HD Warrant"). Concurrently, Dundee
purchased 3,000,000 flow-through units ("FT Units") of Creso. Each FT Unit
consists of one common share of Creso issued on a flow-through basis and
one-half of a common share purchase warrant ("FT Warrant"). Each HD Warrant and
each whole FT Warrant entitles Dundee to purchase one common share at the price
of $0.10 for a period of 24 months.
In aggregate, Dundee Corporation owns or controls a position in Creso
representing an approximate 14.26% interest or 19.76% assuming the exercise of
all warrants held by Dundee.
The position in Creso 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dundee Corporation
Ned Goodman
President and Chief Executive Officer
(416) 365-5665
Dundee Corporation
Lucie Presot
Vice President and Chief Financial Officer
(416) 365-5157
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