Dundee Corporation Strengthens Commitment to Core Strategy and Announces the Sale of its Investment Management Business

TORONTO, Sept. 30, 2024 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) (the “Company” or “Dundee”) announced today that, in alignment with its commitment to its core strategic objectives, it has entered into a definitive agreement to sell its investment management business (the “Investment Management Business”) operated through Goodman & Company, Investment Counsel Inc. to Next Edge Capital Corp. (“Next Edge”) (the “Transaction”). The decision to sell the Investment Management Business enables the Company to enhance its focus on its core investment strategy while streamlining operations and further rationalizing its cost structure.

Lila Manassa Murphy, Executive Vice President and Chief Financial Officer of Dundee, commented:

“This transaction represents a significant strategic step toward cost rationalization, allowing us to more fully concentrate our resources on our core investment strategy. While these funds have played a significant role in Dundee’s history, this move ensures we can streamline our operations and optimize our expense structure. As we look to the future, we are well-positioned to capitalize on investment and growth opportunities for the benefit of our shareholders.”

Rob Anton, President of Next Edge, commented:

“We are excited to close on this transaction and we look forward to further diversifying our alternative and value-added product offerings in Canada.”

The Transaction is subject to customary closing conditions, including regulatory approval and the approval of the unitholders of CMP 2023 Resource Limited Partnership (“CMP 2023”) and the shareholders of Dundee Global Fund Corporation (“Dundee Global Fund”).

Unitholders of CMP 2023 and shareholders of Dundee Global Fund will be asked to approve the change of manager at a special meeting. Details about the Transaction will be contained in the meeting materials mailed to unitholders and shareholders.

Following the closing of the Transaction, Next Edge will become investment fund manager and portfolio manager of both CMP 2023 and Dundee Global Fund.

CMP 2023 and Dundee Global Fund referred the Transaction to their independent review committee (the “IRC”), and the IRC determined that, if implemented, the Transaction would achieve a fair and reasonable result for CMP 2023 and Dundee Global Fund.

ABOUT DUNDEE CORPORATION

Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee is an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector with more than 30 years of experience making accretive mining investments.

ABOUT NEXT EDGE CAPITAL CORP.

Next Edge Capital Corp. is an investment fund manager and a leader in the structuring and distribution of alternative, private credit and value-added fund products in Canada. The firm is led by an experienced management team that has launched numerous investment solutions in a variety of product structures and has been responsible for raising over $3 billion of alternative assets since 2000.¹ Next Edge specializes and focuses on providing unique, non-correlated pooled investment vehicles to the Canadian marketplace.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward- looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Annual Information Form of the Company and subsequent filings made with securities commissions in Canada. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor and Media Relations T: (416) 864-3584
E: ir@dundeecorporation.com

_{1 Please note that over CAD $2 billion of the CAD $3 billion of alternative assets raised relates to assets that were raised at a previous firm(s).}