Dundee Wealth Management Inc. (TSX:DW) announced today that it has entered into an agreement with a syndicate of underwriters, to purchase, on a bought deal basis, 4.5 million common shares of Dundee Wealth from treasury at a purchase price of $10.10 per share for aggregate gross proceeds of $45,450,000.
The syndicate is led by GMP Securities Ltd. and Dundee Securities Corp. and includes RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Capital Corp., Berkshire Securities Inc., Wellington West Capital Inc. and Sprott Securities Inc.
The underwriters also have an option to purchase up to an additional 450,000 common shares of Dundee Wealth from treasury at the same purchase price.
Dundee Wealth plans to use the net proceeds of this financing to finance growth opportunities and for general corporate purposes.
The shares to be issued under this offering will be offered by way of a short form prospectus in all of the provinces in Canada.
This offering is expected to close on March 22, 2005 and is subject to regulatory approval.
Dundee Wealth oversees $42.7 billion in assets under management and administration and 2,618 independent financial advisors and insurance agents located in 684 branches across Canada.
Dundee Wealth announces $45.45 million financing
- By: IE Staff
- March 3, 2005 March 3, 2005
- 10:10