I'm happy paying a 1/3 discount to what Goodman just payed to go to 19.9%. Was 5.5 c or 44c equivalent.
Just a refresher to focus everyone's attention :
TORONTO, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (“Dundee”) is pleased to announce that it 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. Dundee acquired a further 180,000,000 Shares from an arms length third party at a price of $0.055 per Share for aggregate 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.”
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