Toronto-listed Dundee-Palliser Resources can buy 17.5-25 million common shares of MVP Capital from a private shareholder at 5 cents each.
The purchase price is payable partly in cash on closing; and the balance in a 3-year, 10% note convertible into Dundee shares at 40 cents per share. In addition, Dundee has an option to buy half of any MVP shares not bought during this transaction for 5 cents each over two years.
Dundee plans to finance the purchase through an issue of convertible debentures.
The transaction is subject to financing by Dundee and regulatory approval.
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