Dundee Corp. (DC_A.TO) announced that it has acquired, in a private placement, 5 million units of Canadian Orebodies Inc. (CO.V) at a price of $0.20 per Unit. Each Unit consists of one common share in the capital of Canadian Orebodies issued on a flow-through basis and one-half of a common share purchase warrant. Each whole Warrant entitles Dundee to purchase one common share at the price of $0.30 for a period of 18 months, subject to certain accelerated vesting provisions.
In addition, an account managed by Goodman Investment Counsel Inc., a subsidiary of Dundee, controls 5 million common shares and 2.50 million warrants of Canadian Orebodies.
In aggregate, Dundee owns or controls a position in Canadian Orebodies representing an approximate 7.41% interest or 10.72% assuming the exercise of all warrants.
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