TORONTO, ONTARIO -- (Marketwire) -- 12/24/12 -- 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.
President and Chief Executive Officer
Vice President and Chief Financial Officer
Most Popular Stories
- Facebook, Twitter Announce Apps for Google Glass
- Will Yahoo Splurge on $1-Billion acquisition of Tumblr?
- European Car Sales up First Time in 20 Months
- 'Star Trek Into Darkness': The Return of Khan?
- Google Fiber Making an Impact
- Entrepreneurs Chase Social Media
- Exciting Night for UFC Fans
- Teen Drivers Should Be Prepared for Any Car-Related Situation
- Financial Times Twitter, Email Hacked
- Summer Movies Aimed at Young Men, Teen Boys