TORONTO, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX:DC) (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 ...
