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TORONTO, March 17, 2022 (GLOBE NEWSWIRE) — Dundee Society (TSX: DC.A, DC.PR.B, DC.PR.D) (“Dundee” or the “Company”) today announced that it has received regulatory approval for its notice of intention to renew its Normal Course Issuer Issuers”) in respect of its Class A Subordinate Voting Shares (“Class A Shares”), 5-Year Cumulative Rate Reset First Preferred Shares, Series 2 (“Series 2 Shares”) and Cumulative Floating Rate First Preferred Shares, Series 3 (“Series 3 Shares”), and collectively with the Class A Shares and the Series 2 Shares, the ( “Securities”) through the facilities of the Toronto Stock Exchange (“TSX”) or other Canadian trading systems from March 22, 2022 to March 21, 2023.

Jonathan Goodman, President and CEO of Dundee Corporation, said:

“Repurchasing shares for cancellation at the current price is a good long-term investment for the Company and a prudent allocation of capital. Not only does this move further streamline Dundee’s capital structure, it aligns with our goal of returning excess cash to shareholders, if any. Reducing the number of Series 2 Shares and Series 3 Shares outstanding also reduces future dividend payments.

“We remain committed to reducing our overall costs and general and administrative expenses, rationalizing our portfolio of legacy investments and monetizing non-core assets. We will continue to review capital allocation options that provide additional value to our shareholders as we execute our strategic plan to return the company to its roots as an active, long-term mining investor.

Dundee may purchase up to a maximum of 7,465,298 Class A Shares, 114,916 Series 2 Shares and 201,692 Series 3 Shares under the Offers, representing approximately 10% of the Company’s public float for each title category. As of March 15, 2022, Dundee had 84,697,363 Class A Shares, 1,149,162 Series 2 Shares and 2,016,922 Series 3 Shares issued and outstanding. The average daily trading volume for the last six calendar months ended prior to the acceptance of the Offers by the TSX is 57,586 Class A Shares, 379 Series 2 Shares and 1,491 Series 3 Shares. Pursuant to the Offers, Dundee may purchase up to 14,396 Class A Shares, 1,000 Series 2 Shares and 1,000 Series 3 Shares on any trading day, except under a bulk purchase exception.

The price paid for securities purchased under the Offers will be the market price at the time of purchase and all securities purchased under the Offers will be cancelled. The Company intends to enter into an automatic purchase plan with its Designated Broker to enable purchases under the Offers during periods when Dundee would not normally be permitted to purchase securities due to regulatory restrictions or blackout periods. usual self-imposed prohibition. Outside of the automatic purchase plan, securities may continue to be purchased under offers at management’s discretion in accordance with TSX rules and applicable securities laws.

In connection with Dundee’s prior issuer bids which expired on February 23, 2022, the Company sought and received TSX approval to purchase up to 6,418,929 Class A Shares, 114,916 Series 2 Shares and 201,692 Series 3 Shares. The Company purchased a total of 1,071,714 Class A Shares at an average price of $1.42 under past issuer bids.

ABOUT DUNDEE CORPORATION

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

FOR MORE INFORMATION, PLEASE CONTACT:

Investor and Media Relations T: (416) 864-3584 E: [email protected]

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Source: Dundee Corporation

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