Business
Dundee Corporation Announces Sale of New Found Gold Corp. Units for Up to C$159.1 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION ...
About this update from Dundee Corporation Class A
[{"type":"text","content":"Dundee Corporation Announces Sale of New Found Gold Corp. Units for Up to C$159.1 Million\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.\n \n\n TORONTO, Dec. 08, 2025 (GLOBE NEWSWIRE) --\n \n Dundee Corporation\n \n (TSX: DC.A) (“Dundee” or the “Corporation”) is pleased to announce that it has entered into an agreement with BMO Capital Markets Inc. and SCP Resource Finance LP (together, the “Dealers”) to sell 24,480,000 units (the “Units”) at a price of C$4.00 per Unit to qualified purchasers, for gross proceeds to Dundee of C$97,920,000 (the “Sale Transaction”). Each Unit will consist of one (1) common share of New Found Gold Corp. (“New Found”) owned by Dundee (a “Unit Share”) and one-half (0.5) of a common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one (1) additional common share of New Found owned by Dundee (a “Warrant Share”) at an exercise price of C$5.00 for a term of 12 months from the date of issue. In the event that all Warrants are exercised, the total gross proceeds to Dundee would be C$159,120,000.\n \n\n In Canada, the sale of the Unit Shares will be made through block trades on December 8, 2025 and the sale of the Warrants will be made on a private placement basis. In the United States, the sale of both the Unit Shares and the Warrants will be made on a private placement basis. The Warrants will be subject to a statutory hold period under, and will only be tradeable in accordance with, applicable securities laws. The Warrant Shares will not be subject to a hold period under applicable Canadian securities laws.\n \n\n The Sale Transaction is scheduled to close on or about December 16, 2025, or such other date as agreed among Dundee and the Dealers.\n \n\n “Monetizing this position enables us to redeploy capital into opportunities that strengthen our cash generation profile, while our retained warrant position preserves meaningful participation in the company’s future growth.  This transaction reflects our disciplined approach to capital allocation and enh...