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Dundee Sustainable Technologies Announces Completion of Amalgamation
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THETFORD MINES, QUEBEC – TheNewswire - June 18, 2026 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is pleased to announce the completion of the previously announced amalgamation under Section 181 of the Canada Business Corporations Act (the “Amalgamation”) involving the Corporation and 17799799 Canada Inc. (the “Purchaser”), a newly-incorporated and wholly-owned subsidiary of Dundee Corporation (“Dundee”), the Corporation’s parent company.
“With the completion of this transaction, we will create a more streamlined platform from which to advance DST’s business,” said Jonathan Goodman, President and CEO of Dundee. “Full ownership allows us to better align operations with a clear focus on long-term sustainability of the business.”
Pursuant to the Amalgamation, Dundee, through the Purchaser, acquired all issued and outstanding subordinate voting shares (“Subordinate Voting Shares”) and multiple voting shares (“Multiple Voting Shares”) of the Corporation not already held by Dundee. As a result of the Amalgamation, the entity resulting from the Amalgamation and continuing under the name “Dundee Sustainable Technologies Inc.” (“Amalco”) has become a wholly-owned subsidiary of Dundee.
The cash consideration for the Subordinate Voting Shares has been remitted to Computershare Investor Services Inc., as depositary, and payments will be made to the shareholders as soon as reasonably practicable, in accordance with the terms of the Amalgamation and upon proper deposit of their Subordinate Voting Shares.
As the Corporation has become a privately held company, the Corporation applied to cease to be a reporting issuer under Canadian securities laws, and to have the Subordinate Voting Shares voluntarily delisted from the Canadian Securities Exchange.
Pursuant to the requirements of National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Dundee will file an early warning report in accordance with applicable securities laws, which will be made available on the Corporation’s issuer profile on SEDAR+ at www.sedarplus.ca.
Immediately prior to closing of the Amalgamation, Dundee (through the Purchaser) beneficially owned and exercised control and direction over, directly or indirectly, an aggregate of 49,526,218 Subordinate Voting Shares and 2,500,000 Multiple Voting Shares, representing 77.15% of the then issued and outstanding Subordinate Voting Shares and 100% of the then issued and outstanding Multiple Voting Shares. Dundee did not beneficially own or exercise control or direction over, directly or indirectly, any convertible securities of the Corporation.
Pursuant to the Amalgamation, Dundee (through the Purchaser) acquired ownership of an additional 14,669,556 Subordinate Voting Shares (for aggregate cash consideration of C$440,086.68), which together with the 49,526,218 Subordinate Voting Shares and 2,500,000 Multiple Voting Shares beneficially owned by Dundee, represented 100% of the then issued and outstanding Subordinate Voting Shares and 100% of the then issued and outstanding Multiple Voting Shares. All of the Subordinate Voting Shares and Multiple Voting Shares were cancelled pursuant to the Amalgamation.
Upon completion of the Amalgamation, Dundee acquired beneficial ownership of an aggregate of 201 common shares in the capital of Amalco, representing 100% of the issued and outstanding share capital of Amalco, and Amalco became a wholly-owned subsidiary of Dundee.
The purpose of Dundee’s acquisition of the shares of the Corporation was to facilitate the Corporation’s going-private transaction, as is more particularly described in the management information circular of the Corporation dated May 1, 2026, which is available on the Corporation’s SEDAR+ profile at http://www.sedarplus.ca. As noted above, the Corporation has applied to cease to be a reporting issuer under Canadian securities laws, and to have the Subordinate Voting Shares voluntarily delisted from the Canadian Securities Exchange.
To obtain a copy of the early warning report filed by Dundee, please contact:
80 Richmond Street West, Suite 2000
About Dundee Sustainable Technologies
The Corporation is engaged in the development and commercialisation of environment-friendly technologies for the treatment of materials in the mining industry. Through the development of patented, proprietary processes, DST extracts precious and base metals from mineralised material, concentrates and tailings, while stabilising contaminants such as arsenic, which could not otherwise be extracted or stabilised with conventional processes because of metallurgical issues or environmental considerations.
DST has filed, published and was granted patents for the GlassLock Process™ and CLEVR Process™ in numerous countries.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dundee Sustainable Technologies Inc.
Mr. Jean-Philippe Mai President and CEO
Dundee Sustainable Technologies Inc. Tel: (514) 866-6001 # 228
This news release contains forward-looking information and forward-looking statements (collectively referred to hereinafter as, “forward-looking information”) within the meaning of applicable Canadian securities legislation. Forward-looking information is not representative of historical facts or information or current conditions, but instead represent only the beliefs of the management of DST regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the control of DST. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but are not limited to, the Corporation’s ceasing to be a reporting issuer under Canadian securities laws and having the Subordinate Voting Shares voluntarily delisted from the CSE.
By identifying such information and statements in this manner, DST is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information contained in this news release, DST has made certain assumptions. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although management of DST believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release is made as of the date of this news release, and DST does not undertake to update any forward-looking information contained or referenced herein, except as required by applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.