Net proceeds from the offering will be used to advance the exploration and development of the Canadian company’s gold assets in the Dominican Republic and for general corporate purposes.
Dundee has inked this deal on behalf of a syndicate of underwriters including Stifel Nicolaus Canada, Clarus Securities, GMP Securities and Raymond James.
The underwriters were also granted an option to purchase up to an additional $5m of the offering, exercisable in whole or in part at any time up to 48 hours before the closing of the offering.
Closing of the transaction, subject to a number of conditions, is scheduled for on or about 21 August 2012.
All securities issued will be subject to a statutory four month hold period.
