TORONTO, Aug. 05, 2020 (GLOBE NEWSWIRE) — In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A) (“Dundee”) announces that its wholly owned subsidiary, Dundee Resources Limited, has acquired 40,622,794 subordinate voting shares (“SV Shares”) of Dundee Sustainable Technologies Inc. (the “Issuer”) in consideration for the settlement of various debts in the capital of the Issuer, including various unsecured promissory notes and two term loans valued at $13,405,521.97, using a conversion price based on the 20-day VWAP of the SV Shares being approximately $0.33 per SV Share.
Immediately prior to the acquisition of securities described in this news release, Dundee and its affiliates owned or controlled 8,903,424 SV Shares and 2,500,000 multiple voting shares (“MV Shares”) of the Issuer representing an approximate 62.49% equity interest and an 83.20% voting interest in the Issuer. Immediately following the transaction that triggered the requirement to file this news release, Dundee and its affiliates own or control an aggregate of 49,526,218 SV Shares and 2,500,000 MV Shares representing an approximate 82.36% equity interest and an 86.99% voting interest in the Issuer.Dundee acquired the securities of the Issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the Issuer, subsequent developments affecting the Issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the Issuer or may decide in the future to sell all or part of its investment.This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com under the Issuer’s profile. To obtain a copy of the early warning report filed by Dundee, please contact:Dundee Corporation
Legal Department
1 Adelaide Street East, Suite 2000
Toronto, Ontario M5C 2V9
Tel: (416) 350-3388ABOUT DUNDEE CORPORATIONDundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.FOR FURTHER INFORMATION PLEASE CONTACT:John Vincic
Investor and Media Relations for Dundee Corporation
Vincic Advisors
T: (647) 402-6375
E: [email protected]

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