Dundee exercises 4.25 million Magna Mining warrants

Executive Summary

• Dundee Corp. exercised 4,259,259 warrants in Magna Mining Inc. at an exercise price of 40.5 cents per warrant, resulting in the acquisition of common shares.
• This transaction triggered an early warning report filing under National Instrument 62-103, increasing Dundee's ownership interest in Magna Mining Inc.
• Dundee's aggregate holding in Magna Mining increased from approximately 18.20% (undiluted) to 18.83% (undiluted) immediately following the exercise.

Key Details

• Warrant Exercise: Dundee exercised 4,259,259 warrants of Magna Mining Inc.
• Exercise Price: 40.5 cents per warrant.
• Securities Acquired: Each warrant was exercisable for one common share of the issuer.
• Pre-Transaction Holdings:
  • Common shares: 42,725,318
  • Warrants: 4,259,259
  • Convertible debentures: $8-million aggregate principal amount
  • Undiluted interest: ~18.20%
  • Partially diluted interest: ~20.98%
• Post-Transaction Holdings:
  • Common shares: 46,984,577
  • Convertible debentures: $8-million aggregate principal amount
  • Undiluted interest: ~18.83%
  • Partially diluted interest: ~20.11%
• Regulatory Filing: An early warning report was filed under National Instrument 62-103 and is available on SEDAR+.
• Investment Intent: Dundee acquired the securities for investment purposes only and intends to review factors such as price, availability, and market conditions to determine future purchases or sales.

Notable Quotes

• "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... 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."