Business
Dundee Corporation Announces Closing of Sale of New Found Gold Corp. Units
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. TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (“Dundee” or the “Corporation”) is pleased to announce that it has closed its previously announced sale (the “Sale Transaction”) of 24,480,000 units (the “Units”) of New Found Gold Corp. (“New Found”) to qualified purchasers for gross p
About this update from New Found Gold Corp
[{"type":"image","alt":"Dundee Corporation","displaySize":"","headline":null,"caption":"Dundee Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":44,"url":"https://media.zenfs.com/en/globenewswire.com/a283af8d30aef7fe2a1e5a715f5a38c1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/lRCi3cMcYyOzaqyh4cMlBQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTYyO2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/a283af8d30aef7fe2a1e5a715f5a38c1","width":300,"height":44}},"lazy":false},{"type":"text","content":"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.","length":189,"tagName":"p"},{"type":"text","content":"TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (“Dundee” or the “Corporation”) is pleased to announce that it has closed its previously announced sale (the “Sale Transaction”) of 24,480,000 units (the “Units”) of New Found Gold Corp. (“New Found”) to qualified purchasers for gross proceeds to Dundee of C$97,920,000 (see press release dated December 8, 2025). The Units were sold through BMO Capital Markets Inc. and SCP Resource Finance LP.","length":469,"tagName":"p"},{"type":"text","content":"Each Unit consists of one (1) common share of New Found (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. In the event that all Warrants are exercised, the total gross proceeds to Dundee would be C$159,120,000.","length":459,"tagName":"p"},{"type":"text","content":"In Canada, the sale of the Unit Shares was made through block trades on December 8, 2025 and the sale of the Warrants was made on a private placement basis. In the United States and certain offshore jurisdictions, the sale of both the Unit Shares and the Warrants was made on a private placement basis, in accordance with applicable securities laws. The Warrants will be subject to a statutory hold period under, and will only be tradeable in accordance with, applicable securities laws, which statutory hold period expires on April 17, 2026. The Warrant Shar...