Dundee Corporation - CEO, Jonathon Goodman
CEO, Jonathon Goodman
Source: Dundee Corporation
  • Dundee Corporation (DC.A) has acquired ownership or control of 340,000,000 ordinary shares and 8,160,000 options of Big River Gold Limited
  • The 19.38% ownership stake of Big River Gold cost Dundee A$17.9 million
  • 160 million shares were acquired through a brokered private placement for A$0.05 per share
  • Dundee acquired 180 million more shares from a third-party for A$0.55 per share
  • Dundee Corporation is an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector
  • Dundee (DC.A) is trading at C$1.25 per share at 11:45 am EST

Dundee Corporation (DC.A) announces the acquisition of shares and options of Big River Gold Limited.

Dundee Corporation has acquired ownership or control of 340,000,000 ordinary shares (“Shares”) and 8,160,000 options of Big River Gold Limited (ASX:BRV, “Big River”) for aggregate consideration of A$17,900,000.

Dundee now owns or controls 19.38% of the outstanding shares of Big River on an undiluted basis and 19.75% on a partially diluted basis.

Dundee acquired 160,000,000 shares through a brokered private placement in which its affiliate, Dundee Goodman Merchant Partners (“DGMP”), acted as joint lead manager at a price of $0.05 per share for aggregate consideration of A$8,000,000.

The company acquired a further 180,000,000 shares from an arms-length third party at a price of $0.055 per share for A$9,900,000.

DGMP earned 8,160,000 options in connection with its engagement as joint lead manager under the private placement.

Jonathan Goodman, President and CEO of Dundee Corporation, commented, “We are excited to announce our ownership position in Big River as a cornerstone investment for Dundee. The Borborema Gold Project is a fully permitted, construction-ready, open pit project located in the Borborema province, northeastern Brazil. The project displays robust economics and withstood our rigorous technical due diligence stress testing. Based on our analysis, Big River is significantly undervalued and is resilient to lower commodity prices.”

Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange. 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.

Dundee (DC.A) is trading at C$1.25 per share at 11:45 am EST.

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