Dundee Energy Limited Announces Proposed $10 Million Rights Offering
TORONTO, ONTARIO--(Marketwire - Oct. 29, 2012) - Dundee Energy Limited ("Dundee Energy" or the "Corporation") (TSX:DEN) announced today that its board of directors has conditionally approved a transferable rights offering pursuant to which Dundee Energy intends to raise approximately $10 million, subject to definitive terms and conditions as well as approvals from the Toronto Stock Exchange and securities regulatory authorities. 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. The terms of Dundee Corporation's backstop will be identical in all respects to those of shareholders participating in the rights offering.
