TORONTO, Sept. 24, 2019 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) (the “Corporation” or “Dundee”) today announced it has received notice of a reassessment by Canada Revenue Agency resulting from the audit of its 2014 tax year filing for the amount of $12.7 million. The Corporation had previously disclosed in the contingencies note to its quarterly financial statements, beginning in June 2018, that there was a possibility of reassessment.
As part of this reassessment, the Corporation intends to pay the full amount within the next two weeks in order to stop further interest from accruing. Additionally, the Corporation intends to file an appeal of this reassessment within the required regulatory timeframe.ABOUT DUNDEE CORPORATION
Dundee 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.
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