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Dundee Energy Ltd Proposes $10 Million Rights Offering


Monday, 29 Oct 2012 08:10pm EDT 

Dundee Energy Ltd announced that Board of Directors has conditionally approved a transferable rights offering pursuant to which Dundee Energy intends to raise approximately $10 million. Dundee Corporation, which owns approximately 57% of Dundee Energy, will agree to backstop the offering so that it will purchase common shares not otherwise purchased pursuant to the exercise of rights by shareholders. It is expected that the net proceeds from the offering will be used to incur further exploration expenditures on the Corporation's properties in Southern Ontario. 

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