On December 3, 2020, Dundee Corporation entered into a subscription agreement with Atico Mining Corporation with respect to the issuance of unsecured convertible debentures of Atico for gross proceeds of US$6.5 million. The debentures will mature five years following the closing date with an interest rate of 7.0% per annum, will be convertible into up to an aggregate of 11,627,907 common shares of Atico at a conversion price of US$0.559 per share and will be guaranteed by certain subsidiaries of Atico Mining.
Cassels is acting for Dundee Corporation and Dundee Resources Limited with a deal team that includes Jay King and Stefan Politano (Securities and Mining), Jennifer Wasylyk (Banking & Specialty Finance) and Corinne Grigoriu (Tax).