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Client Work

Dundee Corporation completes US$130 million preference share financing

Fasken
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Client

GMP Securities and Scotia Capital

On September 15, 2009, Dundee Corporation (TSX – "DC.A") announced that it had completed its short form prospectus offering of 4,600,000 Cumulative 5-Year Rate Reset First Preference Shares, Series 2 at a purchase price of $25.00 per share, for aggregate gross proceeds of $115 million. On September 21, the underwriters exercised an over allotment option and Dundee Corporation issued a further 600,000 Rate Reset Series 2 Preference Shares for aggregate gross proceeds of $15,000,000. The Rate Reset Series 2 Preference Shares are listed on the Toronto Stock Exchange under the symbol DC.PR.B. The offering was underwritten on a bought deal basis by a syndicate co-led by GMP Securities L.P. and Scotia Capital Inc. that included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Dundee Securities Corporation, National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation and Raymond James Ltd. The lead underwriters were advised in this transaction by a team from Fasken Martineau that included Georges Dubé, Martin Fisher-Haydis, Brad Freelan and Alex Nikolic.

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