1. Dundee Corporation sold 24.48 million units of New Found Gold Corp. 2. The transaction generated gross proceeds of C$97.92 million for Dundee. 3. Each unit includes a common share and half a warrant for future shares. 4. If all warrants are exercised, proceeds could total C$159.12 million. 5. Sale proceeds will support Dundee's strategic investments in mining.
FAQ
Why Bullish?
The significant proceeds from the sale enhance Dundee's liquidity and investment capacity, which historically correlates with share price appreciation. Similar past transactions in the mining sector have often bolstered investor confidence, leading to increased stock prices.
How important is it?
This news signifies Dundee's strong financial positioning and the potential for future growth, impacting investor sentiment positively and encouraging buying activity.
Why Long Term?
The strategic reinvestment of sale proceeds into mining assets usually yields long-term gains. Historical patterns show that strong financial positions foster growth in mining companies over time.
Dundee Corporation Finalizes Sale of New Found Gold Corp. Units
TORONTO, December 16, 2025 - Dundee Corporation (TSX: DC.A) has successfully completed the sale of 24,480,000 units of New Found Gold Corp. (DDEJF) as part of a previously announced transaction. This sale generated gross proceeds of C$97,920,000 for Dundee, further solidifying its financial position in the mining sector.
Details of the Sale Transaction
The transaction involved the sale of units comprising one common share of New Found (referred to as a "Unit Share") and one half of a common share purchase warrant (termed a "Warrant"). Each Warrant allows the holder to purchase an additional common share of New Found owned by Dundee at an exercise price of C$5.00 over a period of 12 months. If all Warrants are exercised, the total gross proceeds could reach C$159,120,000.
Sale Methodology
The Unit Shares were sold through block trades conducted by BMO Capital Markets Inc. and SCP Resource Finance LP. This sale occurred on December 8, 2025, under private placement regulations in Canada and specific offshore jurisdictions, adhering to applicable securities laws.
Regulatory Compliance and Trading Restrictions
The Warrants will be subject to a statutory hold period, which expires on April 17, 2026, after which they can be traded in accordance with securities regulations. Meanwhile, the Warrant Shares are exempt from this hold period under Canadian securities laws.
Investors should be aware that the securities sold under this transaction are not registered under the United States Securities Act of 1933, meaning they cannot be offered or sold in the U.S. without compliance with registration requirements or applicable exemptions.
About Dundee Corporation
Dundee Corporation is a public Canadian holding company focused on mining, trading on the Toronto Stock Exchange under the symbol "DC.A". The corporation specializes in acquiring mineral resource assets and aims to unlock value through strategic investments in global mining projects. This focus on acquiring and managing mining investments demonstrates Dundee's commitment to generating returns while collaborating with operational partners.
Forward-Looking Statements
This announcement may contain forward-looking information reflecting Dundee's expectations about future activities and financial performance, particularly related to the Sale Transaction and the anticipated use of proceeds. Investors should exercise caution and not place undue reliance on such statements as they involve risks and uncertainties that may lead to actual results differing materially.
Contact Information
For additional information, please contact:
Investor and Media Relations
T: (416) 864-3584